U.S. trade deficit jumps to record high in August

Published by
Reuters

By Lucia Mutikani WASHINGTON (Reuters) -The U.S. trade deficit raced to a record high in August, boosted by imports as businesses rebuild inventories, the latest sign that economic growth slowed in the third quarter. The trade deficit surged 4.2% to $73.3 billion last month, the highest since the government started tracking the series, the Commerce Department said on Tuesday. Economists polled by Reuters had forecast the trade gap widening to $70.5 billion. When adjusted for inflation, the goods trade deficit increased $1.9 billion to $101.8 billion in August. The report followed on the heels …

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