Trade
US Trade Deficit Shrinks to $58.3 Billion, Smallest Since 2020
- Gap in goods and services trade narrowed 9.9% to $58.3 billion
- Merchandise trade deficit with China shrank to five-month low
The figures suggest softer domestic demand for both consumer goods and capital equipment.
Photographer: Bing Guan/BloombergThis article is for subscribers only.
The US trade deficit shrank to an almost three-year low in August, reflecting a pullback in American demand for foreign merchandise and a pickup in goods shipments overseas.
The shortfall in goods and services trade narrowed 9.9% from the prior month to $58.3 billion, Commerce Department data showed Thursday. The figures aren’t adjusted for inflation. The value of imports declined 0.7%, while exports increased 1.6%.