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US international trade deficit narrows in August from July

U.S. international trade deficit narrowed to $42.4 billion in August, from the revised figure of $43.6 billion for July, as exports rose and imports declined during August, the U.S. Department of Commerce said.

The trade deficit was expected to narrow to a consensus $42.5 billion in August, according to Econoday data made available by Bloomberg.

Exports increased $800 million to $195.3 billion in August from July, while imports decreased $400 million to $237.7 billion.

The decrease in the goods and services deficit was due to a decrease in the goods deficit of $900 million to $64.4 billion and an increase in the services surplus of $300 million to $22.0 billion.

Year-to-date, the goods and services deficit increased $29.1 billion, or 8.8%, from the same period in 2016.