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Joined: 28 Dec 2005 Posts: 11982
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Posted: Sun Feb 22, 2015 5:41 am Post subject: Trade Balance & Shale Oil Boom |
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PeakTrader:
The weak recovery is actually weaker than reflected in GDP, because the trade balance narrowed.
Americans have been consuming up to $300 billion a year less than producing in the global economy, since the pre-recession trade deficit peak.
Some of the decline is from weaker aggregate demand and some from the shale oil boom.
The shale oil boom not only reduced imports of oil, adding to GDP, it boosted domestic production, along with multiplier effects, which also added to GDP.
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