Deficit in US trade rose
high in June due to domestic demand and higher oil prices which was boosted by
import bill.
The Commerce Department said
on Friday the trade gap increased 8.7 percent to $44.5 billion in June, the
biggest deficit since August 2015. May's trade deficit was revised slightly
down to $41.0 billion, reports CNBC.
June marked the third
straight month of increases in the deficit. Economists polled by Reuters had forecast
the trade gap widening to $43.1 billion in June after a previously reported
$41.1 billion shortfall. When adjusted for inflation, the deficit rose to $64.7
billion from $60.9 billion in May.
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