U.S. goods trade deficit shrinks on weak exports
Sep, 29, 2022 Posted by Gabriel MalheirosWeek 202239
The U.S. trade deficit in goods narrowed for a fifth straight month in August amid a decline in imports, which is being driven by slowing domestic demand as the Federal Reserve aggressively tightens monetary policy to tame inflation.
The report from the Commerce Department on Wednesday, Sept. 28, suggested that trade would again contribute to gross domestic product in the third quarter.
The economy could also get a boost from big gains in wholesale and retail inventories last month, though consumer and business spending are likely to be tepid.
The goods trade deficit contracted 3.2% to $87.3 billion last month, the smallest since October 2021.
Imports of goods dropped $4.6 billion to $267.1 billion.
There was a 6.9% plunge in imports of industrial supplies, which include petroleum.
Imports of capital goods dropped 1.8%, while those of consumer goods slipped 0.2%.
Goods exports fell $1.7 billion to $179.8 billion in August.
Source: Money Times
To read the full original article, please go to: https://www.moneytimes.com.br/deficit-comercial-de-bens-dos-eua-diminui-em-agosto-com-queda-das-importacoes/
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