Economic Report: U.S. trade deficit climbs 8.7% in June to $44.5 billion

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The U.S. imported more cell phones in June.

WASHINGTON (MarketWatch) — The U.S. trade deficit jumped 8.7% in June to a 10-month high of $44.5 billion, reflecting the higher cost of oil and more imports of consumer goods such as cell phones and drugs.

Economists polled by MarketWatch had expected the trade gap to rise to $43.2 billion from a revised $41 billion in May.

Although a higher deficit subtracts from GDP, the official scorecard of the nation’s growth, more demand for consumer goods suggests Americans are still spending at a pace consistent with a fairly healthy if slowly expanding economy.

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