FXstreet.com (Barcelona) - U.S. trade deficit has decreased more than expected in August thanks to an unexpected increase on exports good enough to outbalance the increasing costs of imported crude, according to the latest report by the Commerce Department.
U.S. trade balance posted a deficit of 57.59 billion dollars, 2.4% smaller than July's revised 59.00 billion dollars; previously reported as 59.25 billion.
August's trade gap has been smaller than expected, market analysts had advanced a milder decrease to a 59.00 billion deficit. The reason for this better than expected trade balance, has been the increase of foreign demand for American products, together with a weak dollar that makes foreign products more expensive for American citizens and, hence, less attractive.
Exports have increased 0.4% in Augusts, and imports have decreased in the same percentage, 0.4%.