The U.S. international trade deficit narrowed in August, falling 2.7% to $42.4 billion, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Imports slipped 0.1%, while exports grew 0.4%. August’s report followed a shrinking trade balance in the preceding two months. July’s trade deficit was downwardly revised slightly from $43.7 billion to $43.6 billion.
The goods deficit decreased 1.3%, lowering to $64.4 billion, while the services surplus jumped 1.4% to $22.0 billion.
Exports of goods increased just over $0.5 billion to $129.2 billion in August. Exports of services declined 0.4% to $66.1 billion.
Imports of goods decreased $0.3 billion to $193.6 billion, the fourth consecutive monthly decrease. Imports of services remained virtually unchanged at $44.1 billion in August.
Read the Census/BEA release.