U.S. goods trade deficit falls in September, inventories mixed
But wholesale inventories dropped 0.3% last month after being unchanged in August.
By REUTERSUS President Donald Trump pauses as he announces his decision that the United States will withdraw from the landmark Paris Climate Agreement, in the Rose Garden of the White House in Washington, US, June 1, 2017.(photo credit: KEVIN LAMARQUE/REUTERS)
The US goods trade deficit fell in September as trade tensions restricted the flow of goods, but that will probably not change expectations of a further deceleration in economic growth in the third quarter.The Commerce Department said on Monday the goods trade gap dropped 3.6% to $70.4b. last month. Exports declined 1.6%, pulled down by plunges in shipments of foods and feeds, as well as automobiles. Goods imports tumbled 2.3% amid decreases in imports of industrial supplies, capital goods, motor vehicles and consumer goods.The Commerce Department also reported retail inventories rose 0.3% in September after dropping 0.2% in the prior month. Retail inventories, excluding motor vehicles and parts, the component that goes into the calculation of gross domestic product gained 0.3% after slipping 0.2% in August.But wholesale inventories dropped 0.3% last month after being unchanged in August.
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