U.S. trade gap in goods rises 5.7% in September to $92.2 billion
The numbers: The trade deficit in goods widened 5.7% in September to $92.2 billion as a strong dollar crimped exports. Yet a sharp decline in the trade gap since the spring is likely to help the U.S. economy post the first increase in quarterly growth since the end of last year.
The trade gap in goods rose from $87.3 billion in the prior month, the Census Bureau said. Exports fell and imports moved higher.
Still, the trade gap in goods has shrunk by one-third from a record $125.6 billion in March. Lower trade deficits add to gross domestic product, the official scorecard for the economy.
An advanced estimate of wholesale inventories, meanwhile, showed a 0.8% increase in September. Retail inventories rose 0.4% in the month, according to an early estimate.
Source: https://www.marketwatch.com/story/u-s-trade-deficit-in-goods-climbs-for-first-time-in-five-months-as-strong-dollar-dings-exports-11666788297
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