Dr Peter Morici: US Trade Deficit at $56.7 billion in June; Job losses mount
Aug 12th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Today, the US Commerce Department reported the June deficit on trade in goods and services was $56.7 billion, down from the $59.2 billion deficit in May. U.S. imports of consumer goods did ease, as a result of the recession in retail sales, but the cost of oil imports and the trade deficit with China continued to rise.