US EditionUS goods trade deficit widens sharply in July
4 Articles
4 Articles
US Trade Deficit Widens as Industrial Imports Surge
The U.S. goods trade deficit widened sharply in July as imports of oil and industrial supplies soared, signaling firm domestic demand in an economy where manufacturers and consumers appear to be drawing heavily on fuel, chemicals, and raw materials to keep activity humming. The trade gap in goods jumped 22 percent to $103.6 billion from $84.9 billion in June, the Commerce Department reported on Aug. 29. Economists polled by Reuters had expected …
The IMF expects only a modest acceleration in US economic growth next year, to two percent.
U.S. imports of goods rose $18.6 billion to $281.5 billion in July, while exports fell $0.1 billion to $178 billion. The International Monetary Fund expects only a modest acceleration in economic growth next year.
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