by Calculated Risk on 10/05/2022 08:38:00 AM
From the Department of Commerce reported:
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today
that the goods and services deficit was $67.4 billion in August, down $3.1 billion from $70.5 billion in July,
August exports were $258.9 billion, $0.7 billion less than July exports. August imports were $326.3 billion,
$3.7 billion less than July imports.
Click on graph for larger image.
Exports increased and imports decreased in August.
Exports are up 20% year-over-year; imports are up 14% year-over-year.
The second graph shows the U.S. trade deficit, with and without petroleum.
The blue line is the total deficit, and the black line is the petroleum deficit, and the red line is the trade deficit ex-petroleum products.
Note that net, imports and exports of petroleum products are close to zero.
The trade deficit with China increased to $37.4 billion in August, from $21.7 billion a year ago.
The trade deficit was slightly lower than the consensus forecast.
Image and article originally from www.calculatedriskblog.com. Read the original article here.