Trade gap rises
Higher oil prices lift gap between imports and exports to third highest reading ever.
October 13, 2005: 8:36 AM EDT
NEW YORK (CNN/Money) - Rising oil prices lifted the U.S. trade deficit in the August reading issued Thursday, but the gap between the nation's imports and exports was slightly below Wall Street expectations.
The Commerce Department report showed a $59 billion trade gap in August, up from a revised $58 billion in July. Economists surveyed by Briefing.com had forecast a gap of $59.5 billion for the most recent period.
The August trade gap was the third highest ever, trailing only the deficits recorded in February and June of this year.