By MARTIN CRUTSINGER
(Forbes.com – The Associated Press)
WASHINGTON — A lower dollar appears to be boosting the U.S. economy only gradually, with higher prices on imported oil helping outweigh the benefit of cheaper American exports.
The latest evidence was a government report Friday that the U.S. trade deficit jumped in September by the largest percentage amount in more than a decade. A big culprit was foreign oil, whose prices hit their highest point in nearly a year. That helped eclipse a fifth straight gain in U.S. exports.
Economists think a rebounding global economy will keep raising demand for U.S. exports. The dollar’s value has dropped about 12 percent against a basket of major currencies since last spring. A lower dollar can help boost U.S. exports because it make them cheaper for foreigners to buy.
