Trade Deficit increased to $73.3 Billion in September
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $73.3 billion in September, up $7.6 billion from $65.7 billion in August, revised. September exports were $258.0 billion, $2.8 billion less than August exports. September imports were $331.3 billion, $4.8 billion more than August imports. Exports decreased and imports increased in September. Exports are up 22% year-over-year; imports are up 14% year-over-year. Both imports and exports decreased sharply due to COVID-19 and have now bounced back. 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, exports of petroleum products are slightly positive. The trade deficit with China increased to $37.3 billion in September, from $36.4 billion a year ago. The trade deficit was slightly higher than the consensus forecast. https://www.calculatedriskblog.com/2022/11/trade-deficit-increased-to-733-billion.html
Comments