U.S. goods trade deficit falls in September, inventories mixed
But wholesale inventories dropped 0.3% last month after being unchanged in August.
By REUTERSPublished: OCTOBER 28, 2019 20:19Advertisement
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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