Top News | Oct 7, 2015
Huge trade deficit widening in the U.S.
Yesterday’s published data of U.S. trade balance marked a substantial widening to USD -48.33 bn in August down from -41.86 bn in July. Although the market expected a drop (USD -48.00 bn) it shows that the slump in commodity prices and the strong dollar hit the export industry in the United States hard. On the import side one has to acknowledge that up to USD 2 bn are due to cell phone imports (iphone 6s).