The nation's trade deficit jumped almost 12% in September to a three-month high of $73.3 billion, as falling oil prices and a strong dollar dented U.S. exports
The numbers: The nation’s trade deficit jumped almost 12% in September to a three-month high of $73.3 billion, as falling oil prices and a strong dollar dented U.S. exports.Economists polled by The Wall Street Journal had forecast a $72.3... The numbers: The nation’s trade deficit jumped almost 12% in September to a three-month high of $73.3 billion, as falling oil prices and a strong dollar dented U.S. exports.Economists polled by The Wall Street Journal had forecast a $72.3 billion shortfall.
Key details: Exports of U.S. industrial supplies, oil, food, and soybeans all declined. Semiconductor exports rose.Big picture: The trade deficit has fallen sharply from a record high earlier in the year, giving a boost to gross domestic product in the third quarter. Yet the U.S. is still on track to post another record trade gap in 2022.
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