U.S. Trade Gap Widens in July

The U.S. trade deficit widened 16% in July, the most in more than a decade, the Commerce Department said Thursday.

The gap between imports and exports rose to $32 billion, from $27.5 billion in June, Commerce said.

Economists had forecast the deficit would rise to $27.3 billion from an initially reported $27 billion, Bloomberg said.

Exports rose 2.2%, outpaced by imports, which rose 4.7%.