The US trade deficit fell 3.5 percent in August to 59.1 billion dollars amid a drop in imports and weaker oil prices, government data showed Friday.
The Commerce Department report was roughly in line with forecasts for a deficit of 59 billion dollars.
Exports fell 2.0 percent in the month, the first decline since March, a sign of weaker global economic conditions and a firmer dollar. But imports fell by 2.4 percent, a result due in part to the sharp drop in petroleum costs.
The report showed exports of 164.7 billion dollars and imports of 223.9 billion. However, imports excluding petroleum rose to a record 144.2 billion dollars.
The politically sensitive deficit with China rose to 25.3 billion dollars, the highest since October 2007, with imports from China hitting a record 31.8 billion dollars.
Copyright 2008, by
AFP
. All rights reserved
Stock market collapse raises heat for world...
GE unveils third-quarter earning slump as forecast 