US Trade Deficit Hits Record High In August

US Trade Deficit Hits Record High In August

The U.S. trade deficit widened to a record in August, reflecting a pickup in the value of imports of consumer goods and industrial supplies. The gap in trade of goods and services increased 4.2% to $73.3 billion, from a revised $70.3 billion in July (notably worse than the $70.8 billion defricit expected).

Source: Bloomberg

The value of goods and services imports rose 1.4% to a record $287 billion in August. Exports climbed 0.5% to $213.7 billion.

Source: Bloomberg

And so much for ‘exporting’ energy – Petroleum products saw a net deficit in August…

Source: Bloomberg

And the deficit with China increased once again…

Source: Bloomberg

 

Tyler Durden
Tue, 10/05/2021 – 08:43

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