Friday, October 3, 2014

Trade Deficit Dropped to $40.1 Billion in August

The U.S. trade deficit shrank for the fourth consecutive month in August to $40.1 billion. The deficit is the lowest it has been since January. Exports increased faster than imports, contributing to the overall decline in the trade deficit.

Exports improved 0.3% to $198.5 billion. Imports increased 0.1% to $238.6 billion.

The goods deficit widened while the petroleum deficit shrank. The services surplus improved from the previous month.

The real goods deficit, which is important for the calculation of GDP, grew to $47.9 billion.

Read the Census report.

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