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Entries in Imports (4)

Friday
Aug102012

Fears Mount as China Reports Weak Trading Data in July

iStockphoto/Thinkstock(BEIJING) -- Worries are mounting over the strength of the global economy after China, the world’s second largest economy, reported worse than expected trade data on Friday.

In July, China's exports rose by 1 percent from a year earlier, falling short of the 11.3 percent gain made in June.  Analysts had expected to see a growth of about 8 percent.

Imports, meanwhile, faired slight better, climbing by 4.7 percent last month.  But that still was below expectations -- analysts had predicted a 7 percent gain -- and the figures are down from the 6.3 percent growth in June.

The news sent Asian, European and U.S. stocks down on Friday.

Sluggish trade growth is problematic for the Chinese government as it readies to undergo a once-a-decade transition to new leadership. Since June, the country has cut interest rates twice, but it may need more aggressive action to reverse the downturn.

Copyright 2012 ABC News Radio

Wednesday
May302012

Obama Signs Export-Import Bank Reauthorization

File. Official White House Photo by Pete Souza(WASHINGTON) -- President Obama signed legislation Wednesday to reauthorize the Export-Import Bank, saying the bill will help boost U.S. exports and create jobs here at home.

Hitting on campaign themes, the president hailed the bill as important to building a strong middle class and "the kind of economy where everybody is getting a fair shot and everybody is doing their fair share, and everybody is playing by the same rules."

"Part of building that broad-based economy with a strong middle class is making sure that we’re not just known as a nation that consumes.  We’ve got to be a nation that produces, a nation that sells," Obama said at a White House signing ceremony. "Our middle class was created by workers who made and sold the best products in the world.  Our communities and our economy have always done better when we shipped more goods than anybody else, stamped with that phrase: ‘Made in America.’ And I want us to be that nation again."

The Export-Import Bank aids U.S. exporters by providing financial assistance to foreign entities that purchase American-made goods. The bill that was signed Wednesday extends the institution’s mandate through September 2014 and raises its financing cap to $140 billion from the current $100 billion.

The president praised lawmakers for passing the legislation, but made clear "we’ve got more work to do."  

Obama went on to urge Congress to act on his legislative "to-do list" to grow the economy, arguing "we shouldn’t have to wait until an election to do some of this business."

"I hope this ends up being a model for the kind of progress that we can make in the months to come and the years to come," he said of the Export-Import Bank reauthorization.

Copyright 2012 ABC News Radio

Wednesday
May112011

American Exports Boom in March, Biggest Gain Since '94

Dynamic Graphics/Thinkstock(WASHINGTON) -- It’s a big boost for “Made in the USA:” American exports jumped in March, but imports rose as well.

American exports rose 4.6 percent in March, the biggest monthly gain since 1994. U.S. manufacturers stepped up production with increasing foreign demand for cars, chemicals and industrial machinery.

The Commerce Department says the trade deficit grew to more than $48 billion because of the soaring price of oil imports.

Copyright 2011 ABC News Radio´╗┐

Friday
Mar182011

US Seeing Japan Supply Problems, No Major Impact on Broader Economy

Comstock/Thinkstock(NEW YORK) -- Japan is the third largest manufacturer in the world and an important global producer of computer, electronic and transportation equipment.
 
Analysts say that companies will be watching their supply chain closely to see how they can continue production.
 
Dale Ford an analyst with IHS iSuppli says we will likely not see complete shutdowns like the one at a General Motors plant in Shreveport, La.  He adds though that “there will absolutely be an impact” and it will likely be felt during the next several months.
 
He says there are some key parts you simply cannot get anywhere else.  Japan for instance is a major supplier of laser diode used in Blu-ray and DVD players, depending on how long supply disruptions last anyone who makes a Blu-ray player will be impacted.  The question right now, is to what degree?
 
While specific supply chains will be affected Augustine Faucher, an economist with Moody’s Analytics says that, “the disaster does not appear likely to have a large impact on the U.S. economy.”
 
A worsening nuclear crisis and further power or infrastructure damage could change this situation.

Copyright 2011 ABC News Radio ´╗┐







ABC News Radio