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- U.S. trade deficit widens more than expected in June
U.S. trade deficit widens more than expected in June
The
U.S. Commerce Department reported on Thursday that the U.S. goods and services
trade deficit widened to $75.7 billion in June from a revised $71.0 billion in
the previous month (originally a gap of $71.2 billion).
Economists
had expected a deficit of $73.9 billion.
According
to the report, the June advance in the goods and services reflected a gain in
the goods deficit of $4.0 billion to $93.2 billion and a decline in the
services surplus of $0.7 billion to $17.4 billion.
In June,
exports of goods and services from the U.S. rose 0.6 percent m-o-m to $207.7
billion, while imports climbed 2.1 percent m-o-m to $283.4 billion, as the
global COVID-19 pandemic and the economic recovery continued to impact
international trade.
Year-to-date,
the goods and services deficit surged 46.4 percent from the same period in
2020. Exports jumped 14.3 percent, while imports soared 21.3 percent.
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