The US trade gap narrowed unexpectedly in August as services trade pushed exports slightly higher and imports fell by a fractionally larger amount, according to a US Commerce Department report.
The monthly deficit was $30.7 billion, down 3.6 per cent from a revised estimate of $31.9 billion for July. That reflected a 0.2 per cent increase in exports to the highest since December and a 0.6 per cent decline for imports.
Analysts surveyed before the report had expected imports to get more of a boost from a combination of higher oil prices and US businesses rebuilding their inventories, and increase the August trade gap to around $33 billion.
Reuters