The US trade deficit widened in July for the first time in four months as demand for American-made goods slowed on the back of global economic uncertainty.
The gap between imports and exports grew 0.2 per cent to $42bn from a downwardly revised $41.9bn in June, commerce department data showed. The figure came in below economists’ estimates of $44.3bn.
A wider trade deficit acts as a drag on growth because the US typically spends more on imports while taking in less from the sales of American-made goods.
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