Keeping you up to date on the latest data releases.
- International Trade
In August, the U.S. trade deficit expanded $1.8 billion to $44.2 billion, up from July’s upwardly revised $42.5 billion deficit ($42.0, previously). Both imports and exports fell with the former declining a modest 0.1 percent to $225.5 billion and the later falling 1.0 percent to $181.3 billion. August marks the second consecutive month that imports and exports simultaneously fell. Exports also contracted in most major categories with weakness in the global economy likely contributing to their sluggish activity. On a year-over-year basis, imports rose 1.1 percent, up from July’s 0.8 percent yearly gains. Exports increased 1.6 percent year-over-year, a deceleration from July’s 2.7 percent gain and the second quarter average yearly gain of 5.4 percent. August’s $44.2 billion trade deficit was largely in line with consensus forecasts which had predicted a level of $44.0 billion.