Trade
US Trade Deficit Narrows for a Fifth Month to Smallest in a Year
- Trade gap shrank in August to $67.4 billion as imports fell
- Real goods deficit narrowed to smallest since January 2021
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The US trade deficit shrank for a fifth month in August to the smallest in more than a year, reflecting a decline in the value of imports that’s poised to lend support to economic growth in the third quarter.
The trade gap in goods and services narrowed by $3.1 billion, or 4.3% from a month earlier, to $67.4 billion, Commerce Department data showed Wednesday. The figure, which isn’t adjusted for inflation, was in line with the $67.7 billion median estimate in a Bloomberg survey of economists.