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The trade picture continues to look bright

I'm on the river in Aswan, Egypt, on a mini ocean liner; tomorrow we set off down the Nile to visit various interesting things. We had a wonderful dinner tonight that seemed right out of a movie. Plus, I just discovered they have WiFi! So I thought I would make a quick post, seeing as it's after dinner and we had a big day. It's been wonderful, but also VERY hot.

US exports are growing nicely, and imports are doing even better. Double-digit growth in both means all sorts of good things are happening. Strong growth in exports, as has been presaged for a long time by outbound container exports, means that exports are adding to the growth picture in the U.S. Even stronger growth in imports means that demand has U.S. consumer demand has rebounded nicely, and it also means that foreign manufacturers are benefiting. Eventually, what is good for overseas exporters is good for overseas demand for U.S. goods and services, so this is just a good old-fashioned virtuous cycle.

I just can't seen anything to complain about in the overall trade picture.

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