U.S. Outlook: Improving trade balance is a game changer
A major shift in the U.S. trade deficit could signal faster U.S. economic growth this year.
- Improving U.S. trade balance is a sustainable, long-term trend.
- U.S. energy production & slowing domestic usage is a game-changer for U.S. trade outlook.
- An oil boom is lifting economies from North Dakota to Texas.
- 2014 import growth will stay below rates seen in past consumer-driven expansions.
- U.S. trade deficit should improve in 2014 to 2.4% of GDP vs. 3% in Q3 2013.
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