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The U. S. trade deficit in June increased by 8. 7%

by:Deyuan      2020-12-23
On Friday, On August 5th) The U. S. trade deficit in June rose to a 10-month high, rising domestic demand and rising oil prices to boost imports, however, a stronger dollar lag influence continue to hinder the export growth.

the Commerce Department said on Friday, June trade deficit increased by 8. 7%, to $44. 5 billion, is the largest deficit since August 2015. May's trade deficit has fallen slightly to $41 billion.

in June is the deficit increase the third consecutive month. Deficit of $41. 1 billion in May report, economists forecast in June the trade deficit widened to $43. 1 billion. When adjusting the inflation, the deficit from $60. 9 billion to $64. 7 billion in May.

the government last week announced the second quarter gross domestic product, according to trade during this period has contributed two over ten percentage points, to 1. Annualized growth rate of around 2%.

in June 2014 to December 2015, the dollar rose sharply weakened export growth.

as the weakness in the dollar this year on a trade-weighted basis, has eased some of the drag on exports. But in Britain after the referendum, the dollar has strengthened. Economists argue that this may cause an outlet pressure again.

on exports of goods and services in June rose slightly 0. 3%. As exports Britain up to 18. 2%, exports to the European Union to become 7. 8%. Made in China to buy more American goods in June, 3 make the country's exports. 6%.

as the oil price rise, the import of goods and services increase 1 June. 9%, to $227. 7 billion. The average oil prices from 34 in May. 19 dollars/barrel, rose in June to 39. $38 a barrel, the highest level since October last year. The average price of 5. $19 is the growth of the largest increase since May 2011.

June imports rise also reflects the domestic demand growth. Imports from China rose by 2. 8%. Because of imports over exports, politically sensitive sino-us trade deficit growth in June 2. 5% to $29. 8 billion, is the biggest deficit since November last year.
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