Economic Report: U.S. trade deficit widens in July, advance report shows

Bloomberg News/Landov
Trucks wait in line next to the Maersk Hartford cargo ship at the Port of Charleston in Charleston, South Carolina.

WASHINGTON (MarketWatch) — An early look at U.S. trade patterns in July points to a wider trade deficit.

The advanced trade gap in goods — services are excluded — widened by 1.78% to $ 65.1 billion in July, the Commerce Department said Monday. Both exports and imports declined, but exports dropped at a faster pace in the month.

Economists surveyed by MarketWatch expected a goods trade deficit of $64.6 billion.

Despite the wider deficit, economists expect trade to be positive to growth in the third quarter.

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