Daily Management Review

U.S. trims trade deficit in August


In August, the U.S. trade deficit decreased from a revised estimate in July to $67.4 billion, a $3.1 billion (4.3%) fall, according to a press statement from the U.S. Commerce Department's Bureau of Economic Analysis.

According to analysts surveyed by DailyFX, the trade imbalance decreased from July's initial reading of $70.7 billion to $67.7 billion in the month under review. The amount for July was reduced to $70.5 billion.

In the meantime, U.S. exports in August decreased by $0.7 billion, or 0.3 percent, from July to $258.9 billion. Imports decreased by 1.1 percent, or $3.7 billion, to $326.3 billion.

The U.S. services surplus decreased by $0.4 billion to $20.2 billion in August, while the goods trade deficit decreased by $3.4 billion from July to $87.6 billion.

Data on the United States' exports, imports, and trade balance from two months ago are produced and published jointly by the Bureau of Economic Analysis and the Census Bureau (further disaggregated by category).

source: dailyfx.com