US trade deficit at highest in five months on higher imports
A slowdown in activity as 2018’s huge stimulus from tax cuts and more state spending fades could prompt the Fed to cut interest rates later in July
03 July 2019 - 17:48
Washington — The US trade deficit jumped to a five-month high in May as imports of goods increased, most likely as businesses restocked ahead of an increase in tariffs on Chinese merchandise, overshadowing a broad rise in exports.
The wider trade deficit reported by the commerce department on Wednesday added to weak housing, manufacturing, business investment and moderate consumer spending in suggesting that economic growth slowed in the second quarter. The labour market also appears to be losing momentum, with private employers adding far fewer than expected jobs to their payrolls in June...
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