the numbers the trade deficit fell in august to a 15month low of 674 billion paving the way for a resumption of growth in us gross domestic product in the third quarter the deficit narrowed 43 from 705 billion in july the government said wednesday it was the fifth decline in a row exports slipped 03 in august to a 2589 billion imports dropped 11 to 3263 billion economists polled by the wall street journal had forecast a deficit of 677 billion big picture the us deficit has tumbled since peaking at a record 1069 billion in march exports have risen and imports have declined particularly because of falling oil prices lower deficits add to gdp the official scorecard of the economy the shrinking trade gap is set to add a whopping 3 points to thirdquarter gdp the mirror opposite of what happened in the first quarter the result gdp is set to rise for the first time in three quarters ending at least for now any talk that the us is already in recession which way the trade deficit trends in the months ahead is less clear a strong dollar is hurting us exporters while a slowing economy could force americans to reduce spending on imports even though they are cheaper to buy market reaction the dow jones industrial average djia and sp 500 spx were set to open lower in wednesday trades following a twoday rally