Trade Deficit Edges Up, Imports Increase

The U.S. trade deficit edged up slightly in June as imports rose for the first time in 11 months, another sign that the worst recession since World War II is beginning to loosen its grip on the economy.

The Commerce Department says the deficit rose 4 percent to $27 billion, from May's $26 billion. The May imbalance had been the lowest deficit in nearly a decade.

The bigger June deficit reflected an increase in imports for the first time in nearly a year, an indication that demand in the U.S. is starting to revive.

In a good sign for American producers, exports rose for the second straight month. That could be a signal global demand also is starting to rebound.

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  • by Derek Location: Greenville on Aug 13, 2009 at 06:28 AM
    Maybe we should all take a pay-cut, lower the fixed cost it takes to run a business and then start manufacturing again...... oh wait - we can't because we like being overpaid to do menial jobs. That's why our low end jobs were sent overseas, because we want more income.
  • by CCC Location: Greenville on Aug 12, 2009 at 06:15 AM
    Thanks to obama's trillion dollar stimulus, this trade deficit will only get larger. We owe China mega bucks and this is one way the government plans to repay them. Just plain ole common sense folks.

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