Economic Buzz: US trade deficit widens sharply

US goods and services trade deficit widened sharply to $105.6 billion in August, soaring $12.7 billion from a revised $92.8 billion in July, according to data released by the US Census Bureau and Bureau of Economic Analysis (BEA) on Tuesday. The August deficit marked a 13.7 per cent month-on-month increase, as imports surged while exports saw a modest rise.

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