5 Aug 2015
US trade deficit widens to USD 43.8 billion
FXStreet (Mumbai) - The US trade deficit in June widened largely due to higher imports of autos and drugs from the European Union.
The trade deficit rose 7.1% to a seasonally adjusted USD 43.8 billion in June, beating the estimated rise to USD 42.7 billion from May’s USD 40.94 billion. The trade deficit with the EU hit a record high. Exports slipped 0.1% to USD 188.6 billion in June, the Commerce Department data showed on Wednesday. Imports rose 1.2% to USD 232.4 , leading to a wider trade deficit.
The wider deficit is not be surprising since the government report on "goods" balance released last week showed a similar rise.
The trade deficit rose 7.1% to a seasonally adjusted USD 43.8 billion in June, beating the estimated rise to USD 42.7 billion from May’s USD 40.94 billion. The trade deficit with the EU hit a record high. Exports slipped 0.1% to USD 188.6 billion in June, the Commerce Department data showed on Wednesday. Imports rose 1.2% to USD 232.4 , leading to a wider trade deficit.
The wider deficit is not be surprising since the government report on "goods" balance released last week showed a similar rise.