U.S. exports rise as imports fall

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Marketplace

News, Business

4.5 • 1.4K Ratings

🗓️ 7 February 2024

⏱️ 1 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stocks rise; Chinese imports have fallen more than 20%; consumer credit rises in December; mortgage applications tick up.

Transcript

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0:00.0	This is the Marketplace Minute.
0:03.5	I'm Justin Ho.
0:05.0	Stocks closed higher on Wednesday.
0:07.1	The Dow rose 4 tenth percent, the S&P added 8 tenth percent, and the NASDAQ gained
0:12.0	almost 1%.
0:14.0	U.S. exports rose over the course of last year
0:16.4	compared to the year before.
0:17.7	That's according to the Commerce Department.
0:19.4	Meanwhile, imports fell almost 4%,
0:22.4	especially imports from China.
0:24.2	Those were down more than 20% from the year before.
0:27.0	In fact, imports of goods from Mexico
0:29.0	surpassed imports of Chinese goods for the first time since 2002. Consumer credit rose in December, but by less
0:35.8	than economists expected. Credit car debt and other types of revolving credit rose the most.
0:40.6	And the number of mortgage applications rose last week compared to the week
0:44.6	before. That's according to the Mortgage Bankers Association. It says purchase
0:48.5	activity has been strong but not as strong as it was early last year.
0:53.1	I'm Justin Ho with the Marketplace Minute. You're going to.

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