The U.S. trade deficit widened by more than expected in August as growth in imports outpaced an increase in exports, according to data released by the Commerce Department on Tuesday.
The trade deficit increased to $105.6 billion in August from a revised $92.8 billion in July.
Economists had expected the deficit to widen to $99.0 billion from the $88.6 billion initially reported for July.
Imports Increase 4.3%
The value of U.S. imports rose 4.3% in August to $420.8 billion.
Exports also increased during the month, rising 1.4% to $315.2 billion.
The larger increase in imports relative to exports resulted in the wider monthly trade deficit.