US trade deficit widens in September

Published Thu, Nov 3, 2022 · 09:02 PM

THE US trade deficit widened sharply in September, likely as a strong US dollar and softening global demand weighed on exports.

The Commerce Department said on Thursday (Nov 3) that the trade deficit increased 11.6 per cent to US$73.3 billion. Exports of goods and services fell 1.1 per cent, while imports increased 1.5 per cent.

A smaller trade deficit was the main driver of the rebound in gross domestic product in the third quarter. The economy grew at a 2.6 per cent annualised rate last quarter after contracting at a 0.6 per cent pace in the second quarter. REUTERS

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