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  • The U.S. Trade Gap Widens to a New Record

    08/13/2004 6:00:25 AM PDT · by Jordi · 54 replies · 1,629+ views
    Yahoo ^ | Friday August 13, 8:33 am ET | Reuters
    WASHINGTON (Reuters) - The U.S. trade deficit widened much more than expected in June, hitting a record $55.8 billion dollars as the biggest drop in exports in nearly three years combined with record imports, the government said on Friday. Wall Street economists had expected the deficit to widen, but looked for a gap of just $47 billion. In its report, the Commerce Department also revised May's trade shortfall to $46.9 billion from the previously reported $46.0 billion. The department said exports fell 4.3 percent to $92.8 billion in June, the biggest decline since September 2001 and the weakest performance since...