Surge in imports balloons U.S. trade gap

07/3/2013 | Bloomberg

A surge in U.S. imports suggested robust consumer demand in May but widened the monthly trade gap to $45 billion, the second biggest on record, the Commerce Department reported. Looking ahead, "the U.S. will keep growing faster than other areas of the world. We don't see a huge rise in exports but expect a big gain in imports," commented Robert Rosener, an economist at Credit Agricole CIB in New York.

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