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U.S. goods trade deficit increases in August By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO: Containers laden with shipping containers were seen at Bayonne, New Jersey (USA), August 21, 2021. REUTERS/Andrew Kelly

WASHINGTON (Reuters) – The U.S. trade deficit in goods increased in August amid a rise in imports as businesses replenished depleted inventories, suggesting trade could again be a drag on economic growth in the third quarter.

According to the Commerce Department, last Tuesday’s goods trade deficit increased 0.9% to $87.6 million. As the economy recovers from severe disruptions caused in part by the COVID-19 epidemic, businesses are rebuilding their inventories to meet strong domestic demand. For four consecutive quarters, trade has been a source of decline in gross domestic product growth.

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