U.S. trade deficit jumps to record high in June on strong import growth
- Tech mega-caps knock 1% off Nasdaq; banks lift Dow
- EV Company Polestar To Go Public Via $20 Billion SPAC Deal
- Amazon (AMZN) Price Target Lowered at Morgan Stanley Amid Rising Logistics Workforce Costs, Analyst Expects Stock to be Range Bound in Near Term
- Brent oil nears $80 a barrel on tight supply
- Some Apple (AAPL) and Tesla (TSLA) Suppliers Suspend Production in China For a Few Days
FILE PHOTO: Ships and shipping containers are pictured at the port of Long Beach in Long Beach, California, U.S., January 30, 2019. REUTERS/Mike Blake/File Photo
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
WASHINGTON(Reuters) - The U.S. trade deficit surged to a record high in June as efforts by business to rebuild inventories to meet robust consumer spending drew in more imports.
The Commerce Department said on Thursday that the trade gap increased 6.7% to $75.7 billion in June, an all-time high.
Economists polled by Reuters had forecast a $74.1 billion deficit. Goods imports rose 1.8% to $239.1 billion, also a record high. Exports of goods gained 0.2% to $145.9 billion in June, an all-time high.
(Reporting By Lucia Mutikani; Editing by Kevin Liffey)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Boston Fed's Rosengren, citing worsening of kidney condition, to retire Sept. 30
- Binance to stop Singapore users buying or trading crypto on main platform
- FedEx investors approve CEO Fred Smith's pay
Create E-mail Alert Related CategoriesEconomic Data, General News, Reuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!