BEA

Trade Deficit Increases for April 2009

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The Bureau of Economic Analysis released the April 2009 Foreign Trade statistics. Here is the BEA Foreign Trade Press Release and the full report.

Census, BEA US Trade graph June, 2009

The Nation's international deficit in goods and services increased to $29.2 billion in April from $28.5 billion (revised) in March, as exports decreased more than imports.

The Alliance for American Manufacturing:

Our trade problem can be summarized in one word: China. Imbalanced trade with China is responsible for over half (57%) of the overall U.S. trade deficit in April.

GDP drops 3.8%, Autos 2.04% of that

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GDP statistics were released today and it ain't pretty.

From Bureau of Economic Analysis:

GDP -3.8% 4th Quarter 2008

U.S. exports are way down, imports are also.

Inventory build up reduced the decline of GDP from -5.1% to 3.8%.

Autos was 2.04% of the GDP drop. These means nobody is buying cars and trucks!

Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- decreased at an annual rate of 3.8 percent in the fourth quarter of 2008, (that is, from the third quarter to the fourth quarter), according to advance estimates released by the Bureau of Economic Analysis. In the third quarter, real GDP decreased 0.5 percent.

Don't like what the data says? Hell, Stop Collecting it! BEA to stop tracking Foreign investments in the U.S.

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The Bureau of Economic Analysis (BEA)

Here is the graph of FDI from BEA:

FDI

As you can see Foreign companies are buying US assets extensively so why would the United States not track this very important statistic?

Economy in Crisis writes in Burying the Money Trail:

With the U.S. no longer following the foreign money trail, the American public will cease to have the ability to track the rapid sell-off of America’s best companies to foreign interests, essentially burying the problematic fact that America is for sale.

The American Manufacturing Trade Action Coalition, along with 38 other organizations issued a press release about the BEA decision to not track this vital statistic:

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