Commerce Department: US Trade Deficit Suddenly Widens

August 12, 2011
by Marcy Bonebright



A recent report from the Commerce Department shows that in June, the U.S. trade deficit suddenly widened to its highest level since October 2008. http://www.census.gov/foreign-trade/Pre ... /ft900.pdf On Thursday, a report released by the United States Department of Commerce showed that the U.S. trade deficit suddenly widened in June. The report showed that U.S. exports of goods and services decreased by 2.3 percent in June, while U.S. imports decreased by 0.8 percent, causing the trade deficit to increase by 4.4 percent since May — putting the trade deficit at its highest level since October 2008.

“Exports remain a driving force in our economy. Although numbers in June were lower than we’d hoped, exports have grown at a steady pace for the first half of this year, posting 15.8 percent growth over last year,â€