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US trade deficit widens to $48.3bn in August

US trade deficit widens to $48.3bn in August
Photo Credit: Arabianeye - Reuters

Dubai – Mubasher: The United States trade balance deficit reached $48.33 billion in August, below expectations of $47.4 billion, according to official data released Tuesday.

Trade deficit recorded $41.81 billion in July.

Imports rose 1.2%, while exports decreased 2%. Weak overseas demand and a strong dollar weighed over the exports. Meanwhile, pick up in the imports may be read by many as a sign that sustained employment gains are translating into higher domestic demand, according to FXStreet website.