U.S. goods trade deficit widens in June

The U.S. trade deficit in goods increased in June as imports continued to rise amid an acceleration in economic activity, suggesting trade likely remained a drag on growth in the second quarter. The goods trade deficit increased 3.5% to $91.2 billion last month, the Commerce Department said in Wednesday. The anticipated growth pace in the second quarter would be the fastest since 1983 and could mark a peak in the current cycle.

The U.S. trade deficit in goods increased in June as imports continued to rise amid an acceleration in economic activity, suggesting trade likely remained a drag on growth in the second quarter.

The goods trade deficit increased 3.5% to $91.2 billion last month, the Commerce Department said in Wednesday. The report was published ahead of Thursday's advance second-quarter gross domestic product data.

According to a Reuters survey of economists, the economy likely grew at a robust 8.5% annualized rate last quarter, an acceleration from the first quarter's 6.4% pace. The anticipated growth pace in the second quarter would be the fastest since 1983 and could mark a peak in the current cycle.