Published: 2024-10-07T15:43:47.000Z
Preview: Due October 8 - U.S. August Trade Balance - Deficit to correct lower despite weaker services surplus
Senior Economist , North America
3
We expect an August goods trade deficit of $71.4bn, which would be the lowest since March, and down from $78.8bn in July which was the widest deficit since June 2022. The average of July and August of $75.1bn would then compare to an average of $74.4bn in Q2.
We expect exports to rise by 1.8% after a 0.5% July increase while imports fall by 0.8% after a 2.1% July increase. We expect goods to show exports up by 2.4% and imports down by 1.6%, consistent with the advance goods data.
We expect services to see a 0.5% increase in exports but a 2.5% increase in imports, the latter lifted by TV fees for the Olympic Games. This would see the services surplus fall to $23.1bn from $24.3bn, to its lowest level since April 2022.
