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Tuesday 12 July 2011

US trade deficit tops $50bn on rising oil prices

3:44PM BST 12 Jul 2011

The trade gap expanded to a seasonally adjusted $50.2bn from a downwardly revised $43.6bn in April, according to figures released by the Commerce Department.
Most analysts had expected the gap to increase only marginally in May, to around $44bn, after the April deficit shrank to the lowest level of the year, reflecting the impact on US supply chains of Japan's earthquake and tsunami disaster.

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