By Doug Palmer
WASHINGTON (Reuters) - The politically sensitive U.S. trade deficit widened more than expected in August to its second-highest level on record, fueled by the highest oil import prices in 23 years and record imports from China, the U.S. government said on Thursday.
The monthly trade gap totaled $54.0 billion, expanding nearly 7 percent from a revised $50.6 billion for July, the Commerce Department (news - web sites) report said. Analysts surveyed before the report had estimated the August deficit at $51.5 billion. The gap hit an all-time high of $55.0 billion in June.
A separate government report showed the number of Americans filing initial claims for unemployment benefits increased more than expected in the week ended Oct. 9.
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The report gives U.S. Democratic presidential candidate John Kerry (news - web sites) new ammunition in his bid to unseat President Bush (news - web sites) when voters go to the polls on Nov. 2. Kerry blames the growing trade gap on Bush's economic policies and his alleged failure to aggressively enforce trade agreements.
http://story.news.yahoo.com/news?tmpl=story&cid=580&e=1&u=/nm/20041014/bs_nm/economy_dcBu$h is destroying our country in every way. If he is not doing it deliberately, he is doing a great job of making it look like he is, and that is the real pinnacle of his incompetence.