The United States’ trade deficit jumped to a record high in September as exports plunged, government data showed Thursday.
The Commerce Department said the trade gap increased 11.2% to a record $ 80.9 billion. Economists polled by Reuters had forecast a deficit of $ 80.5 billion.
Exports fell 3% in September, to $ 207.6 billion. Exports of goods fell 4.7%, to US $ 142.7 billion.
The crash was led by industrial supplies, with a $ 1 billion decline in oil exports. Capital goods exports also eased, but consumer goods exports were the highest ever recorded.
Imports increased 0.6% to a record $ 288.5 billion. Imports of goods grew 0.8% to US $ 240.9 billion, also a record.
Imports of industrial supplies and materials were the highest since April 2014 and capital goods imports reached record levels, as did non-oil imports and other goods.
Imports are likely to remain high as companies replenish their depleted inventories.
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