US foreign trade deficit continues to widen in September

America's shortfall in trade with the rest of the world widened in August as import growth outpaced sales overseas.

According to the Department of Commerce, the trade deficit in goods and services increased from -$54.0bn for July to -$54.9bn.

Economists had forecast a reading of -$54.8bn.

Exports increased at a 0.2% month-on-month pace or by $0.4bn to reach $207.9bn, while imports were up 0.5% or $1.2bn to $262.8bn.

Commerce highlighted how the bilateral trade deficit with Germany hit its highest level during the month, reaching $7.1bn.