WASHINGTON (Sputnik) – The US international trade deficit increased to $48.3 billion in August 2015 as export has fallen to the lowest level in three years, US Census Bureau said in a data release on Tuesday.
“August exports of goods ($123.8 billion) were the lowest since June 2011 ($121.3 billion),” the release read. “The Nation's international trade deficit in goods and services increased to $48.3 billion in August from $41.8 billion in July.”
The bureau also revealed that petroleum imports in August were the lowest since September 2004 and stood at $15.1 billion compared to $14.9 billion 11 years ago.
In September, US Federal Reserve Chair Janet Yellen said the US economic activity has been expanding moderately in 2015.
The Federal Open Market Committee (FOMC) that operates under the US Federal Reserve and is charged under federal law to oversee market operations, expects the US gross domestic product to continue to grow at a moderate pace.
