The U.S. trade deficit narrowed sharply in August to its lowest level in five months, as exports surged to a record high, the U.S. Census Bureau reported on Oct. 8.
The goods and services deficit, also known as the trade gap, fell to $70.4 billion in August, down from a revised $78.9 billion in July, according to the report. The August trade deficit was slightly less than the $70.6 billion forecasters expected.
