Economy

U.S. trade deficit rose to $43.5 billion in September

U.S. trade deficit rose to $43.5 billion in September”

The September trade gap rose 1.7 percent to $43.5 billion, in line with analyst expectations, according to the report. The U.S. imported more capital goods, aircraft and computer chips, while demand for foreign autos and parts fell.

With a 261,000 increase to the non-farm payrolls, the result still showed US labor markets in good health, easily bouncing back from Hurricanes Harvey and Irma that idled the USA energy hub in southeast Texas and forced millions of Floridians to flee their homes.

Exporters also have the wind at their back.

The falling unemployment rate was likely to sharpen debate among Federal Reserve policymakers, who appear likely to raise the benchmark USA interest rate next month despite doggedly low inflation which a vocal minority argues should keep the Fed on hold. As a result, the trade surplus with the United States, which accounted for 74.1 percent of Canadian goods exports in September, shrank to C$2.16 billion from C$2.66 billion in August.

At the same time, though, Americans continue to imports more goods from other countries than those countries import from the U.S. Partly that reflects a better-performing U.S. economy.

Exports rose 1.1 percent to $196.8 billion in September, the highest level since December 2014. But that gain was overwhelmed by a $65.4 billion deficit in the trade of goods. Services exports also were the highest on record at $66.2 billion.

Officials said the back-to-back late-summer hurricanes impacted the September trade data, but the distortions could not be isolated or quantified. Strong U.S. consumer spending supports purchases of imported products.

But imports rose more: up 1.2 per cent to $240.3 billion. Exports to China fell 1.1 percent. In the first nine months of 2017, the value of USA imports rose 6.3% and US exports increased 5.6% compared with the same period a year earlier. Imports of non-petroleum imports were the highest since March 2015.

Imports slipped by 0.3 percent to C$46.74 billion on widespread declines. -China trade deficit fell 0.7 percent to $34.6 billion in September.

The volume of trade has grown this year because both the US and global economies are expanding at near the best paces since the global recession ended in 2009.



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