- U.S. trade deficit widens more than expected in August
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U.S. trade deficit widens more than expected in August
The U.S.
Commerce Department reported on Wednesday U.S. the goods and services trade
deficit widened to $54.9 billion in August from an unrevised $54.0 billion in the
previous month.
Economists had
expected a deficit of $54.5 billion.
According to
the report, the August increase in the goods and services deficit reflected a
gain in the goods deficit of $0.8 billion to $74.4 billion and a decline in the
services surplus of less than $0.1 billion to $19.5 billion.
Exports of
goods and services from the U.S. rose 0.2 percent m-o-m to $ 207.9 billion in August,
while imports increased 0.5 percent m-o-m to $262.8 billion.
Year-to-date,
the goods and services deficit surged 7.1 percent from the same period in 2018.
Exports fell 0.2 percent, while imports rose 1.2 percent.
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