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Summary is AI Generated. Newsroom Reviewed
Quick Read
Summary is AI Generated. Newsroom Reviewed
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US trade deficit narrowed by nearly 24% to $59.6 billion in August
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August imports fell 5.1%, marking the largest decline in four months
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Exports showed a slight increase in August, according to Commerce data
The US trade deficit shrank in August as imports declined by the most in four months, official data showed Wednesday after a lengthy delay due to a government shutdown.
The goods and services trade gap narrowed almost 24% from the prior month to $59.6 billion, the Commerce Department said. The median estimate in a Bloomberg survey of economists was for a $60.4 billion deficit.
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The trade report had been scheduled for release on Oct. 7 but was delayed by the longest federal government shutdown, which ended last week. The updated release date for the September trade data, initially slated for Nov. 4, hasn’t yet been announced.
In August, the value of imports decreased 5.1%, while exports edged up. The figures aren’t adjusted for inflation.
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