In September, the US goods trade deficit rose 14.9% to $108.2bn, a 2.5-year high, driven by rising imports and falling exports.

In September, the U.S. goods trade deficit rose to $108.2 billion, a 14.9% increase from August, marking the highest level in 2.5 years. This surge, driven by a significant rise in imports and a drop in exports, indicates trade's negative impact on economic growth for the third quarter. While economists predict a 3.0% GDP growth rate, the increase in imports reflects strong domestic demand amid early stockpiling due to potential labor strikes.

October 29, 2024
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