As Deficit Declines, Small Businesses and Manufacturers Encouraged to Export
by Christina Lee on December 18th, 2008
While the U.S. current account deficit declined more than expected, efforts in promoting overseas exporting remains persistent among the government, economists, and industry experts. The reason why: a trade deficit of more than $214 billion, which they say is more than enough evidence that the United States is still consuming more than it is producing. The current account is the broadest measurement of global economic activity by the United States, as it incorporates investment flows with trade of goods and services. Its deficit current amounts to $174 billion, down 3.7 percent from $180.9 billion. Peter Morici, a University of Maryland... Read more »