Keeping you up to date on the latest data releases.
- International Trade
The nominal trade deficit widened by $3.8 billion in August, cancelling out about half of July’s $7.2 billion narrowing. Exports inched up 0.2 percent to $153.9 billion, while imports grew a larger 2.1 percent to $200.2 billion, resulting in an overall trade balance of −$46.3 billion. Though not as deep as June’s recent low (−$49.8 billion), August’s widening is an apparent resumption of the steady trend begun last June. Most of the widening resulted from a large rise in goods imports ($3.9 billion), as the U.S. ran a minuscule surplus in services over the month. The 0.7 percent increase in services exports marked the fourth in-a-row, bringing service exports to $46.2 billion, the highest level on record. On a year-over-year basis, exports are up 18.0 percent and imports are up 24.0 percent.