In fact, exports grew in August by 2.3 percent to $122.4 billion but import growth was a slightly stronger 2.4 percent to $192.3 billion.
164
Oil Prices Caused US Trade Deficit
US's deficit with the rest of the world hit a fresh high of $69.9 billion in August
US's deficit with the rest of the world hit a fresh high of $69.9 billion in August, partly because of lofty oil prices that since have eased.
The August trade gap was well above expectations and followed a previous record $68-billion deficit in July. Both imports and exports were at record levels in August ? a sign of fairly vigorous economic activity ? but persistent deficits are likely to shave third-quarter growth sharply.
In addition, record deficits on trade with China keep a weak U.S. trade position on the front burner and could make it an issue in campaigning for November congressional elections. The August deficit with China was $22 billion.
In fact, exports grew in August by 2.3 percent to $122.4 billion but import growth was a slightly stronger 2.4 percent to $192.3 billion.
In fact, exports grew in August by 2.3 percent to $122.4 billion but import growth was a slightly stronger 2.4 percent to $192.3 billion.
Подпишитесь
