From The Associated Press:
The Commerce Department reported that the trade deficit declined to $57.6 billion in August, down 2.4 percent from the July imbalance. It was the lowest gap between exports and imports since January and a much better showing than had been expected.
The improvement reflected a 0.4 percent rise in exports, which climbed to a record $138.3 billion, as the decline in the value of the dollar against many other foreign currencies boosted sales of American farm products, industrial supplies and consumer goods to all-time highs.
The story quotes NAM Vice President Frank Vargo, saying, “The global value of the dollar is really helping us. U.S. manufactured goods exports are the strongest element in our economy now.”
Our October economic forecast highlighted the role exports are playing in America’s growth.
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