Daily Management Review

The US merchandise trade deficit widens in September


According to Reuters, the US's merchandise trade imbalance increased in September as a result of weaker exports and higher imports. It is unclear if this will alter the perception that trade had a role in the third quarter's anticipated recovery in economic growth.

The US Department of Commerce said on Wednesday that the trade gap increased 5.7% to $92.2 billion in September. Goods exports decreased by $2.8 billion to reach $177.6 billion. Goods imports increased by $2.2 billion, $269.8 billion in total.

The first official GDP report for Q3 is anticipated to be announced on Thursday. Following a 0.6% decrease in Q2, economists surveyed by Reuters predict that GDP will have expanded by 2.4% year over year.

Given that more than 2.5 million jobs were produced during the first half of 2022, the economy probably did not go into a recession during that time.

source: reuters.com