Did the bounce in the dollar solve the U.S. Trade Deficit problem?
*The Wall Street Journal, by Jeff Bater, September 11, 2008
“The U.S. deficit in international trade of goods and services increased by 5.7% to $62.20 billion from June’s revised $58.84 billion, the Commerce Department said Thursday. The June trade gap was originally reported as $56.77 billion.
U.S. exports in July climbed 3.3% to $168.15 billion from $162.79 billion. July imports increased by 3.9% to $230.35 billion from $221.62 billion. The nation’s trade gap with China surged.
The overall, $62.20 billion trade deficit was much bigger than Wall Street expectations. Economists surveyed by Dow Jones Newswires estimated a $58.80 billion shortfall for July. It was the widest trade deficit since $62.32 billion in March 2007.”
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