GE is planning to sell off its appliance manufacturing. Imagine that. Is anything still made in America? Apparently so. Just not so much.
Manufacturing output fell 0.9 point in April. Half of this loss was attributable to an 8.2 percent decline in the production of motor vehicles and parts. The durable goods sector fell 1.4 points after showing no change in March. In addition to the motor vehicles and parts, nonmetallic mineral products, fabricated metal products, and machinery all fell more than 1 point. The nondurable goods sector edged down 0.1 point with sizable reductions occurring for textile and product mills, printing and support, and plastics and rubber products.
And what happens to all that stuff that is made in America? Seems the rest of the world is buying less.
U.S. Merchandise Trade Deficit
The manufacturing trade deficit in March decreased $3.5 billion, or 4.8 percent, to $68.6 billion. Exports decreased $2.5 billion, or 2.4 percent, to $104.7 billion, and imports decreased $6.0 billion, or 3.4 percent, to $173.3 billion. The change in exports reflected decreases in capital goods ($1.2 billion); automotive vehicles, parts, and engines ($1.0 billion); consumer goods ($0.7 billion); other goods ($0.2 billion); and industrial supplies and materials ($0.1 billion). The change in imports reflected decreases in automotive vehicles, parts, and engines ($2.1 billion); industrial supplies and materials ($2.0 billion); consumer goods ($1.1 billion); capital goods ($0.8 billion); and foods, feeds, and beverages ($0.1 billion).