US Trade Deficit Soars Nearly 10% on Record Imports

(From MarketWatch)

The trade deficit soared almost 10% in July after record imports and hit the highest level in five months, keeping the U.S. on pace to record the largest annual gap in a decade.

The deficit climbed to $50.1 billion from a revised $45.7 billion in June, the Commerce Department said Wednesday. Economists polled by MarketWatch had forecast a $50.4 billion gap.

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