U.S. DEFICIT DOWN TO $42.4 BLN

BEA - The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced  that the goods and services deficit was $42.4 billion in August, down $1.2 billion from $43.6 billion in July, revised. August exports were $195.3 billion, $0.8 billion more than July exports. August imports were $237.7 billion, $0.4 billion less than July imports.

The August decrease in the goods and services deficit reflected a decrease in the goods deficit of $0.9 billion to $64.4 billion and an increase in the services surplus of $0.3 billion to $22.0 billion.

Year-to-date, the goods and services deficit increased $29.1 billion, or 8.8 percent, from the same period in 2016. Exports increased $84.9 billion or 5.8 percent. Imports increased $114.0 billion or 6.4 percent.

The average goods and services deficit decreased $1.3 billion to $43.2 billion for the three months ending in August. 

* Average exports of goods and services increased $1.0 billion to $194.9 billion in August. 

* Average imports of goods and services decreased $0.3 billion to $238.1 billion in August. 

Year-over-year, the average goods and services deficit increased $1.1 billion from the three months ending in August 2016. 

* Average exports of goods and services increased $9.4 billion from August 2016. 

* Average imports of goods and services increased $10.5 billion from August 2016. 

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