Bilal’s Macroscope: Three Critical Trends Revealed by US Trade Flows
- By Bilal Hafeez
- 3 min read
At around -3% of GDP, the US trade balance has improved from the depths of March 2022 when it reached -4.5% of GDP – its lowest level since 2008 (Chart 1). In absolute terms, the trade balance improved sharply in Q2 2022 and since then has been choppily improving (Chart 2).
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