U.S. trade deficit eased 13% in August to $70.6 billion but rose 29% or $136.6 billion from a year ago. In a familiar trade pattern, the U.S. recorded large deficits with China, European Union, Mexico, Vietnam and Canada.
Non-farm payrolls rose at a slower pace in August and the job additions were led by professional services and healthcare sectors. Jobless rate increased after labor force participation rate rose to 62.4%.
The personal consumption price index fell in July but the core index which excludes food and energy rose. The measure of inflation understates price pressures in the economy and benchmarks lower living standards inflicted on consumers .