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Here comes the trade balance ...

Akin OyedeleOct 6, 2015, 17:37 IST

The MV Maersk Mc-Kinney Moller, the world's biggest container ship, arrives at the harbour of Rotterdam August 16, 2013. Reuters

The Department of Commerce will release the US trade balance for August at 8:30 a.m. ET.

Economists estimate that the trade deficit, or the excess of imports over exports, swelled to $48 billion from $41.86 in the prior month, according to Bloomberg.

Pantheon Macroeconomics' Ian Shepherdson wrote in a note to clients that the trade numbers will be "startingly terrible", given low oil prices and soaring consumption.

The data will also include the advance trade report for a third time. Shepherdson notes that the benefit of this is that the Bureau of Economic Analysis will have this data for its first estimate of GDP growth.

We'll be back with the latest when the data cross.

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