US trade deficit in goods and services narrows to the lowest level in five months
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The US trade deficit in August narrowed to the lowest level in five months, mainly driven by the expansion of the services trade surplus and the rebound in commodity exports. According to data from the US Department of Commerce, the trade deficit shrank by 10.8% from the previous month to $70.4 billion, with exports growing by 2%, the largest increase since February, and imports decreasing by 0.9%. Although trade had the biggest impact on GDP in the second quarter, the latest data shows a slight weakening in the net export impact. Adjusted for inflation, the goods trade deficit in August was $88.6 billion, the smallest since February
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