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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