The deficit of US trade balance climbed to $68.0bln Wednesday, September 13, 2006
The deficit of US trade balance climbed in August to $68.0bln, higher than analysts expected ($65 bln). The July reading was revised to $65.5bln from the previous $64.8bln.
The drastic growth of imports was largely connected with high crude oil prices and increasing shipments of equipment, raw materials and consumer goods from abroad. Imports grew by 1.0% in July up to $188bln. Exports fell by 1.1% toward June and amounted to $120bln.
Although the deficit of US trade balance climbed to its record in July, the data may produce slight and brief influence on current dollar position. However, the index will lay more serious pressure on economic growth this quarter.
The drastic growth of imports was largely connected with high crude oil prices and increasing shipments of equipment, raw materials and consumer goods from abroad. Imports grew by 1.0% in July up to $188bln. Exports fell by 1.1% toward June and amounted to $120bln.
Although the deficit of US trade balance climbed to its record in July, the data may produce slight and brief influence on current dollar position. However, the index will lay more serious pressure on economic growth this quarter.
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