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News & Press: Agency News

Commerce Week at a Glance

Monday, February 14, 2011  
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Commerce Week at a Glance
· Latest News
· Data 
· Next Week
· Photo of the Week

LATEST NEWS
Secretary Locke successfully completed a high-tech trade mission to India, making stops in New Dehli, Bangalore and Mumbai. Visit our blog to view photos, read Locke’s remarks from the Indian Institute of Science speech, and hear  from U.S. businesses that are members of the delegation. Highlights included:

· Secretary Locke's keynote address  at the Confederation of Indian Industry luncheon in New Dehli on Monday, where he discussed increasing the kind of mutually beneficial trade that provides win-win opportunities for both countries.

· The Secretary’s visit  to Hindustan Aeronautics Ltd.’s facilities in Bangalore. There, Locke spoke about India’s growing aviation industry, which offers U.S. aerospace companies an estimated $55 billion in export opportunities over the next five years.

CommerceConnect expanded into Chicago and Atlanta this week. The one-stop-shop initiative to streamline how businesses access department resources, CommerceConnect cross-trains DOC employees from its 12 bureaus so that they can connect firms to the full menu of Commerce programs, as well as federal, state, local and nonprofit resources.

DATA
December Monthly Wholesale Tradewas $371.5 billion, up 0.4% from November 2010

U.S. exports of goods and services in December increased 1.8 percent from November to $163 billion. After dropping 14.6 percent in 2009, exports grew 16.6 percent in 2010, compared with an average annual rise of 11.2 percent during 2002-2008.

Commerce’s Chief Economist Mark Doms explains how the increase in exports has supported hundreds of thousands of American jobs .

The Commerce Department’s Minority Business Development Agency (MBDA) and U.S. Census Bureau released new data showing that the number of African American-owned firms in the United States increased by 60.5 percent between 2002 and 2007, to 1.9 million firms.

Data Releases Next Week: January Advance Monthly Retail Sales; December Manufacturing and Trade: Inventories and Sales; January New Residential Construction

NEXT WEEK
Acting Deputy Secretary Dr. Rebecca Blank will roll out the Commerce Department’s 2012 budget on Monday in a conference call with reporters.

On Thursday, Secretary Locke travels to Minneapolis, Minn. for the first stop on the "New Markets, New Jobs ” National Export Initiative Small Business Tour. Locke will be joined by U.S. Trade Representative Ambassador Ron Kirk, Small Business Administrator Karen Mills, Export-Import Bank Chairman Fred Hochberg, Minnesota Gov. Mark Dayton and Minneapolis Mayor R.T. Rybak to kick off the tour, which is intended to reach in 2011 more than 3,500 small and medium sized companies interested in exporting. To find out more, please visit http://www.export.gov/newmarketsnewjobs.

Also next week, NTIA  will launch an interactive national map of wireline and wireless broadband availability. It will show, for the first time, those parts of the country where people have access to 21st century infrastructure, as well as the many gaps that need to be covered.

PHOTO OF THE WEEK
Secretary Locke joins CEO Alex Lintner of Intuit’s Global Business Division at a neighborhood grocery store in New Delhi for a "behind-the-scenes” look at the impact of Intuit’s GoConnect which gives businesses the power to increase visits from existing customers via personalized, targeted mobile marketing campaigns.

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