US trade gap widens in July

City A.M. Reporter
AMERICA’S trade deficit widened slightly more than expected in July as exports dipped, but a rebound in imports pointed to some firming in underlying domestic demand.

The trade gap increased 13.3 per cent to $39.1bn (£25bn). June’s shortfall on the trade balance was revised to $34.5bn from the previously reported $34.2bn.

Imports of goods and services rose 1.6 per cent to $228.6bn in July, with autos hitting a record. Exports dipped 0.6 per cent to $189.4bn.