US trade deficit jumps to record high in June on strong import growth

The U.S. trade deficit surged to a record high in June as efforts by business to rebuild inventories to meet robust consumer spending drew in more imports.

The Commerce Department said on Thursday that the trade gap increased 6.7% to $75.7 billion in June, an all-time high.

Economists polled by Reuters had forecast a $74.1 billion deficit. Goods imports rose 1.8% to $239.1 billion, also a record high. Exports of goods gained 0.2% to $145.9 billion in June, an all-time high.