Last year, for the first time since 2003, Mexico exported more to the U.S. than China did, the U.S. Census Bureau reported.
Category: TRENDS ON THE U.S. ECONOMIC FRONT – Feb 13 2024
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U.S. TRADE DEFICIT WITH CHINA SMALLEST IN 13 YEARS
In 2023, the U.S. trade deficit with China fell to its lowest since 2010 as U.S. firms and government agencies continued to “reshore” and “friendshore” their suppliers to protect the flow of materials and in response to China’s stumbling economy and the country’s geopolitical tensions with the West.
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SLAVELANDIA: RENTS GO DOWN FOR THE RICH, UP FOR THE POOR
As more and more low- and modest-income households find it harder to pay their rent, the well-off are being offered discounts on their housing costs.
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JOBS MARKET REBALANCES, GIVING EMPLOYERS MORE POWER
For the past two years, companies were desperate for workers, raising wages and offering various work-related concessions. Now that the labor market has begun to rebalance, employers are regaining power in their dealings with employees, the Financial Times reported.
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ECONOMIC UPDATE – MARKET OVERVIEW
Stocks dropped on Tuesday after hotter-than-expected inflation data for January spiked Treasury yields and raised doubts that the Federal Reserve would be able to cut rates several times this year, a key part of the bull case for the equity market.