FOREX TradingCharts.com

Financial News: U.S. Trade Deficit Reaches New Record In September

U.S. Trade Deficit Reaches New Record In September As Exports Tumble

11/04/2021 - 09:26:00 (RTTNews)

(RTTNews) - Reflecting a sharp pullback in the value of exports, the Commerce Department released a report on Thursday showing the U.S. trade deficit widened much more than expected in the month of September.

The Commerce Department said the trade deficit widened to a record $80.9 billion in September from a revised $72.8 billion in August.

Economists had expected the deficit to widen to $74.1 billion from the $73.3 billion originally reported for the previous month.

The wider than expected trade deficit came as the value of exports tumbled by 3.0 percent to $207.6 billion in September after rising by 0.6 percent to $214.0 billion in August.

The steep drop in the value of exports partly reflected a substantial decrease in exports of industrial supplies and materials, including crude oil and other petroleum products.

Exports of capital goods also showed a notable decline, while exports of pharmaceutical preparations saw significant growth.

Meanwhile, the report showed the value of imports rose by 0.6 percent to a record high $288.5 billion in September after jumping by 1.3 percent to $286.8 billion in August.

Imports of capital goods and industrial supplies and materials saw notable growth, offsetting a steep drop in imports of automotive vehicles, parts and engines.

The report also showed the goods deficit widened to $98.2 billion in September from $89.2 billion in August, while the services surplus rose to $17.2 billion from $16.4 billion.

"Overall, the data confirm that net trade was a fairly sizable drag on GDP growth in the third quarter," said Andrew Hunter, Senior U.S. Economist at Capital Economics.

He added, "While that should mostly unwind in the fourth quarter as energy exports recover and services exports pick up, overall growth in exports and imports will probably remain relatively subdued."

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Jobless Claims Drop More Than Expected To New 50-Year Low (34 min(s), 41 sec(s) ago)
(RTTNews) - First-time claims for U.S. unemployment benefits pulled back by much more than expecte ...Full Story»

U.S. Weekly Jobless Claims Drop Much More Than Expected (01 hr(s), 01 min(s), 41 sec(s) ago)
(RTTNews) - First-time claims for U.S. unemployment benefits pulled back by much more than expecte ...Full Story»

South Africa Manufacturing Output Drops In October (03 hr(s), 02 min(s), 41 sec(s) ago)
(RTTNews) - South Africa's manufacturing output dropped in October, data from Statistics South ...Full Story»

Ireland Inflation Highest Since June 2001 (03 hr(s), 11 min(s), 41 sec(s) ago)
(RTTNews) - Ireland's consumer price inflation accelerated to the highest since June 2001, dat ...Full Story»

Germany Exports Rebound In October (03 hr(s), 30 min(s), 41 sec(s) ago)
(RTTNews) - Germany's exports grew for the first time in three months in October and also logg ...Full Story»

South Africa Current Account Surplus Falls In Q3 (03 hr(s), 56 min(s), 41 sec(s) ago)
(RTTNews) - South Africa's current account surplus declined in the third quarter, the South Af ...Full Story»

UK House Prices To Continue Rising Next Year: RICS (04 hr(s), 06 min(s), 41 sec(s) ago)
(RTTNews) - UK house prices are expected to increase next year at the national level, the resident ...Full Story»

China Bank Lending Rises Less Than Expected In November (04 hr(s), 30 min(s), 41 sec(s) ago)
(RTTNews) - China's bank lending increased less than expected in November, data from the Peopl ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Jobless Claims Drop More Than Expected To New 50-Year Low

12/09/2021 - 09:02 AM (RTTNews)
(RTTNews) - First-time claims for U.S. unemployment benefits pulled back by much more than expecte ...Full Story>>

U.S. Weekly Jobless Claims Drop Much More Than Expected

12/09/2021 - 08:35 AM (RTTNews)
(RTTNews) - First-time claims for U.S. unemployment benefits pulled back by much more than expecte ...Full Story>>

South Africa Manufacturing Output Drops In October

12/09/2021 - 06:34 AM (RTTNews)
(RTTNews) - South Africa's manufacturing output dropped in October, data from Statistics South ...Full Story>>

Ireland Inflation Highest Since June 2001

12/09/2021 - 06:25 AM (RTTNews)
(RTTNews) - Ireland's consumer price inflation accelerated to the highest since June 2001, dat ...Full Story>>

Germany Exports Rebound In October

12/09/2021 - 06:06 AM (RTTNews)
(RTTNews) - Germany's exports grew for the first time in three months in October and also logg ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.