(Martin Crutsinger – AP)
The U.S. trade deficit shrank for the fourth straight month in August, falling to the lowest level since January as exports rose to an all-time high.
The deficit dropped 0.5 percent in August to $40.1 billion, compared to a revised $40.3 billion in July, the Commerce Department reported Friday.
Exports increased 0.2 percent to a record $198.5 billion, aided by increased sales of petroleum, telecommunications equipment and industrial engines. Imports also rose by a smaller 0.1 percent to $238.6 billion. Read more here.