Trade Gap Widens as Deficit With China Hits 11-Month High

The U.S. trade deficit increased less than expected in July as both exports and imports fell, suggesting that trade could contribute to economic growth in the third quarter.

The Commerce Department said on Wednesday the trade gap rose 0.3 percent to $43.7 billion. June’s trade deficit was revised down slightly to $43.5 billion from the previously reported $43.6 billion.

Economists polled by Reuters had forecast the trade shortfall widening to $44.6 billion in July. When adjusted for inflation, the trade deficit increased to $61.6 billion from $60.8 billion in June. The so-called real goods deficit in July was below the second-quarter average of $62.4 billion.

While that suggests trade could add to gross product in the third quarter, economists at Wrightson ICAP cautioned that Hurricane Harvey could significantly impact commodity prices and trade volumes, and push up the trade deficit in September.

The politically sensitive U.S.-China trade deficit increased to

admin

admin

Leave a Reply

Recent Posts

Trump Supporters: Get Your 2020 'Keep America Great' Shirts Now!

Are you a proud supporter of President Donald Trump?

If so, you’ll want to grab your 2020 re-election shirt now and be the first on your block to show your support for Trump 2020!

These shirts are going fast so click here to check for availability in your area!

-> CHECK AVAILABILITY HERE


More Popular Stuff for Trump Supporters!

MUST SEE: Full Color Trump Presidential Coin (limited!)

Hilarious Pro Trump 'You are Fake News' Tee Shirt!

[Exclusive] Get Your HUGE Trump 2020 Yard or House Flag!

<