US Trade Deficit Widens in September; Inventories Mixed-US News | The Epoch Times

WASHINGTON—The U.S. trade deficit in goods surged in September as exports tumbled, suggesting trade probably weighed on economic growth again in the third quarter. The goods trade deficit increased 9.2 percent to $96.3 billion, the Commerce Department said on Wednesday. Goods exports dropped 4.7 percent, while imports gained 0.5 percent. The report, which was published ahead of Thursday’s advance third-quarter gross domestic product data, also showed wholesale inventories increased 1.1 percent last month. Retail inventories fell 0.2 percent, pulled down by a 2.4 percent plunge in stocks at auto dealerships, which reflected a global chip shortage which is undercutting motor vehicle production. Retail inventories, excluding autos, which go into the calculation of GDP, rose 0.6 percent. According to a Reuters survey of economists, the economy likely grew at a 2.7 percent annualized rate in the third quarter. That would be a step-down from the 6.7 percent rate notched in the …

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Visa Beats Profit Estimates on Travel, Online Spending Boom-US News | The Epoch Times

Wed Oct 27 , 2021
Visa Inc.’s quarterly profit topped Wall Street expectations on Tuesday, as a recovery in travel and an improving global economic picture drove volume growth at the world’s largest payment processor. But cross-border travel was still well below pre-pandemic levels, Visa said, with regions such as the Asia Pacific remaining closed. […]

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