U.S. Trade Deficit Widens As Imports Climb And Exports Fall
05 Outubro 2018 - 6:31AM
RTTF2
Reflecting an increase in imports and a decrease in exports, the
Commerce Department released a report on Friday showed the U.S.
trade deficit widened in the month of August.
The Commerce Department said the trade deficit widened to $53.2
billion in August from a revised $50.0 billion in July.
Economists had expected the trade deficit to widen to $53.5
billion from the $50.1 billion originally reported for the previous
month.
The wider trade deficit came as the value of imports climbed by
0.6 percent to $262.7 billion, while the value of exports slid by
0.8 percent to $209.4 billion.
The report showed notable increases in imports of automotive
vehicles, parts, and engines and cell phones and other household
goods.
Meanwhile, significant decreases in exports of soybeans, crude
oil and other petroleum products were partly offset by increases in
exports of drugs and artwork, antiques, stamps, and other
collectibles.
The Commerce Department also said the goods deficit widened to
$76.7 billion in August from $73.2 billion in July, while the
services surplus rose to $23.5 billion from $23.1 billion.
Michael Pearce, Senior U.S. Economist at Capital Economics, said
the trade data suggests "net trade is on track to be a substantial
drag on GDP growth in the third quarter, which we expect will come
in at 3.0% annualized."
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