SPXT - Services Trade Surplus Worst In 10 Years; Imports Worst Ever; Trade Deficit Worst Ever

• The overall trade deficit in goods and services hit a new all-time worst in August of $73 billion (seasonally adjusted), according to the Commerce Department today.
• The trade surplus in services (exports of services minus imports of services) in August fell to $16.1 billion, the lowest since December 2011, and was down 33% from the average month in 2019.
• Out-of-control imports of goods by Corporate America lead to out-of-control trade deficits in goods despite the surge in exports of products based on petroleum and natural gas.

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