US trade deficit rises to record high in September

The US Commerce Department said today that the US trade deficit rose 11.2% to a record $80.9 billion in September and analysts had expected the trade deficit to reach $80.5 billion in September. Exports fell 3.0% to $207.6 billion in September, and exports of goods fell 4.7% to $142.7 billion as crude oil exports declined by $1.0 billion. Capital goods exports fell while exports of consumer goods rose to an all-time high.

Imports rose 0.6% to a record $288.5 billion in September and imports of goods rose 0.8% to $240.9 billion as imports of industrial supplies and materials rose to their highest levels since April 2014.