US in the red

Tuesday, September 12, 2006

US trade deficit hits fresh high

The US trade deficit hit a fresh high of $68bn (£36bn) in July, due to the cost of crude oil imports reaching a new record, official data has shown. The figure was up 5% on June's deficit, and the gap for 2006 as a whole is now set to exceed 2005's record $717bn.

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