Imports from China widen U.S. trade gap in August

WASHINGTON, Oct 14 (BestGrowthStock) – Record imports from China
helped widened the U.S. trade gap more than expected in August,
a Commerce Department report showed on Thursday, suggesting
countries were stuck in old patterns of trade despite pledges
to put global growth on a more sustainable path.

The monthly trade gap jumped 8.8 percent to $46.4 billion,
compared to a consensus estimate of $44.0 billion from Wall
Street analysts surveyed before the report. The Commerce
Department revised its estimate of the July trade gap down
slightly to $42.6 billion.

U.S. imports from China, which U.S. officials accuse of
undervaluing its currency to gain an unfair trade advantage,
grew 6.1 percent in August to a record $35.3 billion. The U.S.
trade deficit with China also set a new record of $28.0
billion, as U.S. exports to the Asian giant were essentially
flat at $7.3 billion. The previous record trade deficit with
China was $27.9 billion in October 2008.
(Reporting by Doug Palmer; Editing by James Dalgleish)

Imports from China widen U.S. trade gap in August