U.S. Imports Rose as Trade Deficit Widened in June

The gap between what the U.S. imports & what it exports widened in June, the gov't reported. But economists saw some good news in the larger deficit, which narrowed in recent months as the volume of trade between the U.S. & the rest of the world dwindled. The value of imports rose in June for the first time in nearly a year, & American exports increased from a month earlier, though not as much as imports. The $3.5B rise in imports primarily reflected rising costs of crude oil, fuel & other petro-based goods but businesses & consumers in the U.S. were also buying more food & beverages from abroad & foreign-made cars demand rose.