Commerce Says Net Exports Down, Trade Deficit Up in Second Quarter 2010
In its statement on adjusting the estimated Gross Domestic Product to 1.6 percent for the second quarter of 2010, the Commerce Department noted that the downward revision reflected a wider trade deficit and lower inventories, as well as surprisingly large…
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swings in net exports late in the quarter. Commerce also stated that American consumers disposable net income increased at more than a 4 percent annual rate, while business investments in equipment and software grew at more than a 20 percent annual rate for the second straight quarter.