August 11, 2011
U.S. Trade Gap Rises To $53 Billion
By Rick Saia
The U.S. trade deficit grew more than 4 percent in June to $53.1 billion, up from $50.8 million in May, the U.S. Census Bureau announced.
Most of the growth in the deficit was due to drops in the value of exported and imported goods. The government noted a $2 billion decrease in exported industrial supplies and materials, along with a $1.5 billion drop in capital goods. On the other side, the United States imported $2.2 billion less in industrial supplies and materials.
Altogether, the trade deficit for goods in June was $67.6 billion. That was partially offset by a $14.5 billion surplus in services. The value of traded services was virtually unchanged from May to June.
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