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Last Update: 13-Oct-11 09:43 ET
Trade Deficit Remains at July Levels in August
An upward revision to the July trade balance (from $44.8 billion) left the trade deficit unchanged at $45.6 billion in August. The Briefing.com consensus expected the trade deficit to expand to $46.1 billion.
Both imports and exports fell by less than $0.1 billion in August. The goods deficit increased by $0.1 billion and the services surplus decreased by $0.2 billion.
The August trade report was fairly static. There were no export or import sectors that saw gains or losses in excess of $1.0 billion.
Surprisingly, the petroleum deficit widened in August from $25.7 billion to $26.1 billion even though prices had fallen significantly. This is an area that may see a downward revision next month.
Both imports and exports fell by less than $0.1 billion in August. The goods deficit increased by $0.1 billion and the services surplus decreased by $0.2 billion.
The August trade report was fairly static. There were no export or import sectors that saw gains or losses in excess of $1.0 billion.
Surprisingly, the petroleum deficit widened in August from $25.7 billion to $26.1 billion even though prices had fallen significantly. This is an area that may see a downward revision next month.
