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Trade gap widens in June

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Trade gap widens in June

Exports fall slightly, while imports surge on strong dollar.

The US Department of Commerce reported today that the nation’s international goods and services deficit was $43.8 billion in June, up $2.9 billion, or 7.1%, from a revised $40.9 billion in May.

Analysts had expected a deficit of $42.8 billion.

June exports were $188.6 billion, $0.1 billion less than May exports. June imports were $232.4 billion, $2.8 billion more than May imports.

The June increase in the goods and services deficit reflected an increase in the goods deficit of $2.9 billion to $63.5 billion and a decrease in the services surplus of less than $0.1 billion to $19.7 billion.

Year-to-date, the goods and services deficit increased $1.6 billion, or 0.6 percent, from the same period in 2014. Exports decreased $33.4 billion or 2.9 percent. Imports decreased $31.8 billion or 2.2 percent.

For the full report, click here.

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