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Trade Gap Widened in June, Showing Effect of Strong U.S. Dollar

From bloomberg.com

The trade deficit in the U.S. widened in June as the strong dollar lifted imports and hobbled exports, representing a hurdle for economic growth. The gap grew by 7.1 percent to $43.8 billion, the largest in three months, Commerce Department figures showed Wednesday in Washington. The median forecast in a Bloomberg survey of 67 economists called for a widening to $43 billion. A firm dollar, which makes American goods relatively more expensive, and weak demand overseas are weighing on manufacturers and preventing the world’s largest economy from gaining momentum. At the same time, rising orders from U.S. customers, as ... (full story)

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