US Trade Deficit Narrows Sharply in August as Imports Fall
The U.S. trade deficit narrowed more than expected in August as imports declined, but trade could still subtract from economic growth in the third quarter.
The trade gap contracted 23.8% to $59.6 billion, the Commerce Department's Bureau of Economic Analysis and Census Bureau said on Wednesday. Economists polled by Reuters had forecast the trade deficit would ease to $61.0 billion.
Imports decreased 5.1% to $340.4 billion, while exports edged up 0.1% to $280.8 billion.
The report, which was initially scheduled for release on October 7, was delayed because of the recently ended 43-day shutdown of the government...
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