Trade gap narrows in August

In a rare piece of positive economic data, lower energy prices in July sent the trade deficit down 3.5% in August, according to data from the Department of Commerce.
OCT 10, 2008
In a rare piece of positive economic data, lower energy prices in July sent the trade deficit down 3.5% in August, according to data from the Department of Commerce. The August trade deficit shrunk to $59.1 billion from a downwardly revised estimate of $61.3 billion in July. Exports fell 2% in August to $164.7 billion, marking the largest one-month drop since June 2004. Meanwhile, imports fell 2.4% to $223.9 billion. The cost of energy imports declined to $43.7 billion in August, marking a $7.3 billion decline from $51 billion in July. The trade deficit with China increased to $25.3 billion, up $400 million from July. The deficit was $22.5 billion in the year-ago period.

Latest News

WallStreetBets takes on the SEC — and makes a surprisingly sharp case
WallStreetBets takes on the SEC — and makes a surprisingly sharp case

The Reddit trading community's formal comment letter against the proposal is drawing widespread attention across finance and tech circles.

Stratos Wealth Holdings closes 11 acquisitions in push for advisory scale
Stratos Wealth Holdings closes 11 acquisitions in push for advisory scale

RIA aggregator adds $4.8 billion in client assets across seven states as demand grows for alternatives to traditional succession models.

Beyond wealth management: Why the future of advice is becoming more human
Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

Shareholder sues FS KKR Capital board, alleges NAV and dividend cover-up
Shareholder sues FS KKR Capital board, alleges NAV and dividend cover-up

Shareholder targets FS KKR Capital's directors over alleged portfolio valuation and dividend missteps.

UBS loses $1.2 million arbitration claim linked to variable annuities and margin
UBS loses $1.2 million arbitration claim linked to variable annuities and margin

UBS has a history of costly litigation stemming from the sale of volatile investment products.

SPONSORED Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

SPONSORED Durability over scale: What actually defines a great advisory firm

Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline