America's Trade Deficit Widens Less Than Expected

Shipping container vesselAPThe containership ‘Zim Antwerp I’ anchored at the Tollerort Container Terminal in the port of Hamburg, northern Germany, on Aug. 29, 2002. German authorities impounded the ship saying it was sailing for an Israeli shipping company under a Panamanian flag and carried military equipment said to be headed for Iran. Customs officials said the two containers would be sent back to Israel as German law forbids the export of military equipment to Iran.

America’s trade deficit widened less than expected.
The gap grew to $US38.8 billion, versus $US39.4 billion expected.

Prior reading was revised to $US38.6 billion.

“The upbeat survey evidence points to a pick-up on the growth rates of both exports and imports over the next few months, although the overall trade deficit should remain broadly unchanged, particularly if the most recent drop back in crude oil prices is sustained,” Capital Economics commented.

The YOY balance has been slowly improving since 2012:

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