Posted 11/7/2023, 1:34:00 PM
U.S. Trade Deficit Edges Up in September But Remains Near 3-Year Low as Exports Rise
- U.S. trade deficit climbed 5% in September to $61.5 billion, remaining near 3-year low
- Imports rose 2.7% to $322.7 billion, highest since February, as companies stock up for holidays
- Exports increased 2.2% to just below all-time high, but rising dollar could pinch exports
- Deficit on track for smallest increase since 2020, adding to GDP growth
- If economy slows, falling deficit would signal deteriorating conditions as Americans buy fewer imports