US trade gap widened in September

(Dow Jones) The US trade deficit widened in September, reflecting imports increasing to the highest level since January.

The foreign-trade gap in goods and services expanded 1.7% from the prior month to a seasonally adjusted $43.50bn in September, the Commerce Department said on Friday. The deficit matched expectations of economists surveyed by The Wall Street Journal.

Imports increased 1.2% in September, and exports increased 1.1% from August. Imports in September reached the highest level in eight months, and non-petroleum imports were the highest since March 2015.

Exports of goods and services were the highest since December 2014, but still grew at a slower rate than imports, causing the trade gap to expand.

Solid increases in both imports and exports during September could reflect the fact that some shipments were delayed at Gulf Coast ports due to Hurricane Harvey, which struck in late August.

The Commerce Department said hurricanes Harvey, Irma and Maria did effect recent months of trade data, but “these effects generally cannot be isolated".

 

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