US Trade Deficit Contracts Slightly in September
Imports rose 1.2% to a record $426.6 billion as exports also climbed, leaving the trade gap narrower than economists expected.
- On Wednesday, the Commerce Department's Bureau of Economic Analysis and Census Bureau reported the trade deficit narrowed to $105.0 billion in September, contracting 0.7% from the prior month.
- Imports increased 1.2% to a record $426.6 billion in September amid robust domestic demand, while Goods imports rose 1.3% to $346.9 billion.
- Exports advanced 1.9% to $321.5 billion, with Goods exports increasing 2.5% to $211.0 billion, exceeding the $108.0 billion deficit forecast by Economists polled by Reuters.
- Trade has not contributed to GDP growth for four straight quarters, with imports subtracting 2.64 percentage points from GDP growth in the third quarter.
- Despite the trade drag, the economy grew at a 3.4% annualized rate in the July-September quarter, though the trade deficit remains large under President Donald Trump's tariff policies.
23 Articles
23 Articles
(New York = Yonhap News) Correspondent Kim Yeon-sook = The U.S. trade deficit decreased slightly in September.
The US trade balance declined in September, although still high, due to the increase in imports of essential goods. Exports grew, led by oil and food, while purchases of crude oil from abroad declined.
The Economic Times
US trade deficit contracts slightly in September
In September, the US trade deficit decreased by 0.6 percent, driven by capital goods imports and strong exports. Imports rose by 1.2 percent to $426.6 billion, primarily fueled by computers and accessories. Additionally, crude oil imports saw a reduction of $1.3 billion during this period. On the other hand, exports climbed by 1.8 percent, reaching $321.5 billion due to oil, food, and capital goods.
The U.S. trade balance recorded a deficit of US$105 billion in September, according to data released this Wednesday by the U.S. Department of Commerce. Some analysts expected a deficit result of US$108 billion. Exclusive material for subscribers. To have full access, access the link of the subject and register.
Exports increase 1.9% to $321.5B, outpacing 1.2% rise in imports, while trade gap comes in below market expectations
Coverage Details
Bias Distribution
- 46% of the sources are Center, 45% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
