Lost In The Wild Headlines: A U.S. Economic Boom
With the torrent of breaking news being talked about on cable TV, the internet, and in conversations with friends, important economic facts are harder to focus on than ever. For instance, despite the bellicose rhetoric and fears of a trade war, it's wise to remember that China's exports to the U.S. comprise 4.1% of China's GDP, while U.S. exports to China comprise just 1.0% of U.S. GDP. The overall U.S. economy is hardly dependent on trade with China.
Manufacturing purchasing managers reported slightly lower levels of business activity for March, but were off only slightly from February's record high.
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