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US Trade Deficit Drops to $40.1 Billion in August

Posted October 03, 2014

Under Economic Issues, International Trade Issues

(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.