Keeping you up to date on the latest data releases.
- International Trade
The nominal trade deficit narrowed by $2.5 billion in September to $44.0 billion, as exports edged up 0.3 percent over the month and imports declined 1.0 percent. At $154.1 billion, exports are in fact at their highest level in two years, with help from a weakening dollar. The August to September rise in exports mainly reflected services, which saw the largest growth in travel, other private services (including business services, insurance, financial services), and passenger fares. The decrease in imports was attributed to goods imports, particularly consumer goods and automotive vehicles, parts, and engines. The U.S. trade deficit shrank with some major trade partners over the month, including Canada, Mexico, China (down 0.7 percent), and the European Union. On a year-over-year basis, exports are up 14.8 percent, and imports are up 17.0 percent.