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US goods trade deficit unexpectedly widens in September

Reuters

WASHINGTON, Oct 28 (Reuters) - ‌The US trade deficit in goods unexpectedly widened in ​September ‌as imports increased, suggesting that trade ‌again subtracted from economic growth in the third quarter.

The goods trade ‌shortfall increased 2.1%, or $2.8 billion to $134.9 billion last month, the Commerce Department's Census Bureau said on Wednesday. Economists ⁠polled by Reuters had forecast ‌the goods deficit ⁠at $130.2 billion.

Trade has not contributed to ​gross domestic product growth for three straight quarters as an AI ​investment boom pulls in imports, ​mostly ‌capital goods.

Goods imports rose $8.1 billion to $344.1 ​billion last month. Exports ⁠of goods climbed $5.3 billion to $209.2 ‌billion.

The government ​is scheduled to ​publish its advance estimate of third-quarter GDP on Thursday. A Reuters survey of economists forecast GDP increasing ‌at a 3.2% annualized rate, with AI investment and consumer spending ‌expected ​to be the key drivers. The economy grew at a 2.2% pace in the second quarter.

(Reporting by Lucia ‌Mutikani; Editing by Chizu Nomiyama )