The Falling Dollar and Shrinking U.S. Trade Deficit
The boom in U.S. exports is helping to cushion the U.S. economy from the adverse effects of the housing bust and a severe credit crunch. Overseas demand for U.S. goods is being helped by a falling value of the dollar against many other currencies. That development pushes up the cost of foreign vacations and imports for American consumers but makes U.S. products cheaper in foreign markets.
WSJ – The U.S. deficit in international trade of goods and services shrank 2.4% to $57.59 billion from July’s revised $59.00 billion, the Commerce Department reported today.
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