NEW YORK (CNNMoney.com) -- The U.S. trade deficit expanded in July, according to a government report released Thursday, exceeding analysts' estimates.
The Commerce Department reported that imports exceeded exports by $62.2 billion, up from an upwardly revised $58.8 billion in June.
Economists had expected a $58 billion gap, according to a consensus estimate compiled by Briefing.com.
Exports in July were $168.1 billion, up from $162.8 billion in June. The value of imports also rose to $230.3 billion from the previous month's $221.6 billion.
For the US to get better, they HAVE to narrow this gap. As long as they run this kind of deficit, they will keep spiralling downwards no matter how much the PPT works!!
Glorieux