EU Trade Deficit Jumps

     The European Union reported a 21.5 billion-euro trade deficit in July, much larger than the 13.6 billion-euro deficit the same month last year. The increased deficit comes after seasonally adjusted exports rose only 3.9% in June, failing to keep pace with the 4.1% increase in imports. The union suffered the largest imbalance with China, losing a net 72.2 billion euro since the beginning of the year. The United States, however, slightly countered this with its 32.4 billion euro loss to the union during the same time-frame.

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