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Oil imports push trade deficit to record high
The June trade deficit rose to a record 55.82 billion as energy imports surged to 15.30 billion and exports fell. The report showed a 19.1 percent widening from May with energy costs driving the imbalance, prompting economists to lower GDP forecasts for the second half.
MENTIONED IN THIS ARTICLE
Washington, D.C
Labor Department
Commerce Department
Federal Reserve
Alan Greenspan
America
Sung Won Sohn
Wells Fargo
Minneapolis
David Wyss
Standard & Poor's
New York