June trade deficit rose to $27B, imports increase

The U.S. trade deficit edged up slightly in June as imports rose for the first time in 11 months, another sign that the worst recession since World War II is beginning to loosen its grip on the economy. The Commerce Department says the deficit rose 4 percent to $27 billion, from May's $26 billion. The May imbalance had been the lowest deficit in nearly a decade. The bigger June deficit reflected an increase in imports for the first time in nearly a year, an indication that demand in the U.S. is starting to revive. In a good sign for American producers, exports rose for the second straight month. That could be a signal global demand also is starting to rebound.