US trade deficit widens as exports slump
The US trade deficit swelled in June to $53.1 billion (£32.9 billion) from an upwardly revised $50.8 billion the previous month, as exports slumped.
The deficit was much higher than the $48 billion expected by analysts.
According to the Commerce Department, the trade deficit rose to the highest level since October 2008.
Exports fell by $4.1 billion (or 2.3%) to $170.9 billion, while imports dropped by $1.9 billion (or 0.8%) to $223.9 billion.
Meanwhile, the politically sensitive trade deficit with China rose to $26.7 billion in June from May’s figure of $25 billion.