Trade Gap Grew In September To $10.13 Billion --- Worsening-Deficits Pattern Resumed in the Month; Imports Up, Exports Off
WASHINGTON -- The pattern of worsening U.S. trade deficits resumed during September.</br></br>The Commerce Department said the merchandise and service trade deficit widened to $10.13 billion from a revised $9.68 billion in August. Exports declined slightly during the month while imports rose a bit. Through September, the trade deficit reached $82.19 billion, compared with only $55.75 billion during the first nine months of last year.</br></br>As usual, the merchandise trade imbalance was at the heart of the widening gap. Trade in services ran a $4.48 billion surplus during the month. But for goods, the deficit grew about $500 million to $14.61 billion, as exports of industrial supplies, motor vehicles and consumer goods fell while imports of capital goods and consumer goods rose.</br></br>Analysts said the continued increase in capital-goods imports bodes well for controlling prices pressures in the U.S. "It suggests companies are augmenting capacity, and bottlenecks shouldn't be a problem," said William T. Wilson, economist for Comerica Bank in Detroit.</br></br>The volume of foreign oil imports jumped to a record, even though the U.S. foreign-oil bill declined, reflecting a drop in the price.