U.S. June Trade Deficit Widened to a Record as Economic Growth Boosted Imports



Josh Zumbrun | The Wall Street Journal

The U.S. trade deficit widened to a record in June as the resurgent American economy drove strong demand for foreign-made goods.

The foreign trade gap in goods and services expanded 6.7% from May to a seasonally adjusted $75.7 billion, the Commerce Department said Thursday. Imports climbed 2.1% to $283.4 billion, also a monthly record. Exports increased 0.6% to $207.7 billion.

Economists surveyed by The Wall Street Journal expected a deficit of $74.2 billion in June.

The trade report is another example of how American consumers and businesses have stepped up spending and investment as the economy has recovered to its pre-Covid-19 size, fueling demand for imports. Exports have grown more slowly, reflecting weaker recoveries in some other regions that have made less progress against the coronavirus.

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