Economics
U.S. August Goods-Trade Gap Widens to Record on Jump in Imports
- Shipments of consumer goods jump ahead of holiday season
- Inventories rise as stockpiles replenished to meet demand
Photographer: Patrick T. Fallon/Bloomberg
This article is for subscribers only.
The U.S. merchandise-trade deficit widened in August by more than expected to a fresh record as companies raced to replenish depleted stockpiles with imports in the face of firmer demand.
The overall deficit swelled to $82.9 billion from $80.1 billion in July, according to Commerce Department data released Tuesday. The median projection in a Bloomberg survey of economists called for an $81.8 billion shortfall in August. Imports rose by 3.1% to a seven-month high of $201.3 billion while exports increased 2.8% to $118.3 billion.