Monday May 25, 2020

US trade deficit widens to $42 billion

The US trade deficit widened in July for the first time in four months as the global economic slowdown reduced demand for American-made goods.

11th September, 2012
A stagnant Europe and weaker economies in emerging markets such as China may be starting to sap demand for US products.

The US trade deficit widened in July for the first time in four months as the global economic slowdown reduced demand for American-made goods.

The gap grew 0.2 per cent to $42 billion, smaller than projected, from a revised $41.9 billion in June, Commerce Department figures showed today in Washington. The median

forecast in a Bloomberg survey called for a $44 billion deficit. Exports fell by the most since April, outpacing a decline in imports that reflected cheaper petroleum.

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