More horrible news on the Biden economy. Now Biden holds the record for the worst trade deficit ever.
Reuters reported on the record-setting trade deficit this morning.
The U.S. trade deficit in goods widened sharply to a record high in January amid an increase in imports as businesses continued to replenish depleted inventories.
The pace of inventory accumulation reported by the Commerce Department on Monday was, however, slower than in recent months. That, together with the surge in the goods trade deficit, prompted economists at Goldman Sachs to lower their gross domestic product growth estimate for the first quarter by 0.5 percentage point to a 1.5% annualized rate.
The economy grew at a 7.0% pace in the fourth quarter, with inventories contributing a whopping 4.90 percentage points.
“We remain on track for another strong gain in real business inventories in the first quarter, although inventories may end being fairly close to a neutral factor for GDP growth considering that the fourth quarter buildup of inventories also was substantial,” said Daniel Silver, an economist at JPMorgan in New York.
WAKE UP !!!! You should have expected just What you got with BIDEN & his FAKE COUP Administration !!!!
Should have Forced SCOTUS to hear 2020 Election Case > TRUMP WON !!!! NOW , YOU PAY !!!!!