WASHINGTON: The United States trade deficit increased sharply in September, to $41.8 billion, as imports swelled, the Commerce Department reported Thursday.
The increase in the trade gap was much larger than analysts expected, with the average estimate pegged at $39.1 billion.
The Commerce Department slightly downwardly revised the August trade deficit to $38.7 billion, previously estimated at $38.8 billion.
In September, US imports jumped $2.7 billion from the prior month to $230.7 billion.
Exports fell to $188.9 billion from $189.2 billion in August.
Ian Shepherdson of Pantheon Macroeconomics said the report was “worse than expected” and implied the Commerce Department would downwardly revise its estimate for third-quarter economic growth, initially seen at an annual rate of 2.8 percent.
The goods deficit was $2.5 billion higher than the department first estimated, “implying a 0.24 percent downward revision to headline GDP growth, other things equal,” he said.
The September data showed little movement from a year ago. Exports were up 1.1 and imports were up 1 percent from September 2012.
The News Tribe – UK-based bilingual news website covering politics, technology, sports, health and lifestyle from US, Pakistan, Middle East and around the world
Click here for more information
The News Tribe
Pakistan Rupee Exchange Rate