Briefing.com: Trade Balance

Updated: 07-Nov-23 09:17 ET

September Trade Balance

Updated: 07-Nov-23 09:17 ET

Highlights

The trade deficit widened to $61.5 billion in September (Briefing.com consensus -$60.1 billion) from a downwardly revised $58.7 billion (from -$58.3 billion) in August.
Exports were $5.7 billion more than August exports while imports were $8.6 billion more than August imports.

Key Factors

Exports of supplies and materials increased $1.4 billion.
Exports of foods, feeds, and beverages increased $1.4 billion.
Imports of consumer goods rose $2.0 billion, led by a $1.8 billion increase in cell phones and household goods.
Imports of automotive vehicles, parts, and engines increased $1.9 billion.
Imports of capital goods increased $1.6 billion.
The real goods deficit increased $2.8 billion to $86.5 billion. That left the Q3 average 4.5% below the Q2 average.

Big Picture

The key takeaway from the report is that there was strength in both imports and exports in September, demonstrating the continued strength of the U.S. economy and the appeal of U.S. goods abroad at a time of softening global demand.