U.S. TRADE DEFICIT JUMPS TO RECORD HIGH IN AUGUST

The U.S. trade deficit raced to a record high in August, boosted by imports as businesses rebuild inventories, the latest sign that economic growth slowed in the third quarter. The trade deficit surged 4.2 per cent to US$73.3 billion last month, the highest mark since the government started tracking the series, the Commerce Department said on Tuesday. Economists polled by Reuters had forecast the trade gap widening to US$70.5 billion. When adjusted for inflation, the goods trade deficit increased US$1.9 billion to US$101.8 billion in August. Reuters