The U.S. trade deficit widened sharply in August as weak commodity prices, a strong dollar and soft overseas demand weighed on goods exports. The latest figures suggest net exports will be a drag on gross domestic product in the third quarter of the year.
JUMP FROM JULY
15.6%
The deficit widened to $48.3 billion in August, a 15.6% increase from the prior month. With the exception of a $52.2 billion reading this spring that was distorted by a West Coast port labor dispute, that was the biggest trade gap since March 2012.