|
The
Commerce Department said on Wednesday the trade gap widened 3
percent to $40.73 billion. Imports hit their highest level since
September 2015 while exports were the highest since July of last
year. The July trade deficit was revised to $39.55 billion from
a previous $39.47 billion.
Economists polled by Reuters had forecast the trade gap
decreasing to $39.3 billion in August. When adjusted for
inflation, the deficit fell to $57.48 billion from a revised
$58.23 billion in July.
Exports have begun to slowly shake off the lingering effects of
the dollar's strength for much of the past two years against the
currencies of the United States' major trading partners.
Exports of goods and services edged up 0.8 percent to $187.85
billion in August. Exports to China rose 2.6 percent and were up
1.2 percent to the European Union. Exports to the United Kingdom
rose 2.4 percent.
Imports of goods and services increased 1.2 percent to $228.58
billion in August. Oil prices averaged $39.38 per barrel in
August, down 20.2 percent from a year ago.
Imports from China increased 9.5 percent while the politically
sensitive U.S.-China trade deficit widened 11.6 percent to
$33.85 billion in August.
(Reporting by Lindsay Dunsmuir; Editing by Paul Simao)
[© 2016 Thomson Reuters. All rights
reserved.] Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
