US: Net exports look to be a considerable drag on fourth-quarter growth – Wells Fargo – by MSalordFX TradeBalance Banks UnitedStates
ral gas specifically, but there were signs of slower growth beginning to bite, which they expect to remain a headwind for exports into next year. They warn net exports now look to be a considerable drag on fourth-quarter growth.“The U.S. trade deficit widened for the second straight month to -$78.2 billion in October as import growth outpaced exports .
“These dynamics will likely cause net exports to remain a drag on headline growth for a few quarters. But as the economy falls into a mild recession by the second half of next year, net exports are set to boost growth as demand for imports dries up.” If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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