Trade Deficit Spikes To 12-Year-High, Government Says

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The U.S. trade deficit spiked to $63.6 billion during the month of July, a rate not seen since the Great Recession in 2008, according to data released Thursday by the Commerce Department.

Imports since June increased by $22.7 billion, while exports only increased by $12.6 billion — an 18.9 percent increase in one month.

The deficit is dictated by the number of goods the U.S. purchases from other countries, compared to the amount of U.S. goods sold abroad.

Read more at Fox Business.

{Matzav.com}

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