The US trade deficit in goods widened by $18.7bn month-on-month to $103.6bn in July, easily ahead of expectations of $89.5bn, according to a preliminary reading from the Census Bureau.
Source: Sharecast
July's print marked the largest gap in four months, nearing the record-high deficit of $162bn in March as businesses front-loaded their inventory in an effort to get ahead of new US tariffs.
Imports jumped 7.1% from a month earlier to $281.5bn, led by industrial supplies, while exports slipped 0.1% to $178bn as consumer goods and other goods sales contracted.
Reporting by Iain Gilbert at Sharecast.com
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