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Friday, February 21, 2020
HomeNewsEconomyU.S. Trade Deficit Widens Slightly More than Forecast in August

U.S. Trade Deficit Widens Slightly More than Forecast in August

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The U.S. trade deficit for goods and services rose slightly by $0.9 billion to $54.9 billion in August, up from a revised $54.0 billion in July. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis reported exports rose $0.5 billion to $207.9 billion and imports rose $1.3 billion to $262.8 billion.

Forecasters were looking for a range of $-55.0 billion to $-52.0 billion and the consensus forecast was $-54.5 billion.

The 3-month average for the goods and services deficit fell $0.3 billion to $54.8 billion for the period ending in August. Average exports declined $0.8 billion to $207.2 billion, while average imports fell $1.1 billion to $262.0 billion.

Year-over-year, the 3-month average for the goods and services deficit rose $3.2 billion for the period ending in August 2018. Average exports declined $2.0 billion and average imports rose $1.2 billion.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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