Trade deficit widened in July on a pick up in imports
Meanwhile, U.S. exports dropped 0.6 percent to $189.4 billion, down from a record high in June, when they jumped 2.2 percent to $190.5 billion.
Still, the level of exports, which have been a focus of the Obama administration, are at near-record highs.
An increasing trade deficit could weigh on economic growth in the third quarter. The economy expanded at a 2.5 percent rate in the April through June quarter and economists are concerned that the expansion could slip again from July through September.
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