The Commerce Department reported that the U.S. trade deficit rose to $38.8 billion, lower than economists’ expectations. Although exports rose, imported oil prices also rose in the same time period. “Sales in the U.S. are not growing fast enough to suck in imports; at the same time, foreign economies are not growing fast enough to absorb more U.S.-made goods — the net result is a very bland trade picture,” said Michael Montgomery of IHS Global Insight.
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