The US trade deficit surprisingly slipped more than three per cent to $30.7 billion in August compared to the previous month, on the back of a slight increase in exports.
The trade deficit — measured as the difference between imports and exports — slumped 3.7 per cent to $30.7 billion in August. In July, the trade deficit stood at $31.9 billion, according to the US Department of Commerce.
The country's exports in August were at $128.2 billion while imports were worth $158.9 billion.
"August exports were $0.2 billion more than July exports of $128 billion," the Department of Commerce said in a statement today.
Grappling with the worst financial crisis since the 1930s Great Depression, the US government has come up with massive stimulus measures to bolster the nation's sagging economy.
