Select Page

Don't Tread On My Site

No ‘V’ Here! US Trade Deficit Soars To Highest Since 2008

Load WordPress Sites in as fast as 37ms!

No ‘V’ Here! US Trade Deficit Soars To Highest Since 2008

Tyler Durden

Thu, 09/03/2020 – 08:47

While hopes for a ‘v’ remain, the US trade balance data suggests it absolutely did not occur in July as the overall gap of goods and services expanded to $63.6 billion in July from a revised $53.5 billion in June, according to Commerce Department data. This was notably worse than the expected deficit of $58 billion and is the widest trade deficit since 2008

Source: Bloomberg

Exports increased from the prior month by 8.1% to $168.1 billion, while imports gained 10.9% to $231.7 billion, the department said.

Goods trade fell to its lowest in at least 20 years while Services fell to the weakest since Aug 2012…

Source: Bloomberg

Together, the value of U.S. exports and imports rose to $399.8 billion, still well below pre-pandemic levels.

As Bloomberg notes, the widening in the trade deficit in July after narrowing the prior month shows that the U.S.’s economic recovery will come in fits and starts. Trade volumes are higher than May’s pandemic lows, but remain depressed following the initial uptick stemming from reopening measures.

This post has been republished with permission from a publicly-available RSS feed found on Zero Hedge. The views expressed by the original author(s) do not necessarily reflect the opinions or views of The Libertarian Hub, its owners or administrators. Any images included in the original article belong to and are the sole responsibility of the original author/website. The Libertarian Hub makes no claims of ownership of any imported photos/images and shall not be held liable for any unintended copyright infringement. Submit a DCMA takedown request.

-> Click Here to Read the Original Article <-

Advertise on Libertarian Hub

About The Author

Tyler Durden

Zero Hedge's mission is to widen the scope of financial, economic and political information available to the professional investing public, to skeptically examine and, where necessary, attack the flaccid institution that financial journalism has become, to liberate oppressed knowledge, to provide analysis uninhibited by political constraint and to facilitate information's unending quest for freedom. Visit

Leave a reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.