U.S. trade deficit surges 18.9% in July

 

WASHINGTON (MarketWatch) - The U.S. trade deficit jumped 18.9% in July owing to a big snapback in imports, the government said Thursday. The trade gap increased to $63.6 billion from $53.5 billion in the prior month - above the $58.9 billion MarketWatch forecast. Imports shot up 10.9% while exports advanced 8.1%. The increase in both imports and exports is a good sign in many ways, pointing to stronger consumer spending at home and increased demand for American-made goods abroad. Yet global trade is still considerably weaker compared to before the coronavirus pandemic and it will take time to recover. U.S. exports, for example, were 26% lower in July compared to the same month in 2019.

https://www.marketwatch.com/story/us-trade-deficit-surges-189-in-july-2020-09-03?

https://www.foxbusiness.com/politics/trade-deficit-spikes-to-12-year-high-government-says