Reported about 11 hours ago
In July, the U.S. goods trade deficit surged by 22.1%, reaching $103.6 billion due to a spike in imports, raising concerns that trade might hinder economic growth in the third quarter. June saw imports rise by $18.6 billion while exports slightly decreased, marking a reversal from a trade deficit contraction in the previous quarter which had bolstered GDP growth. Current estimates suggest a 2.2% growth rate for GDP in the upcoming quarter.
Source: YAHOO