The U.S. trade deficit shot up to $43.62 billion in the April-June quarter, the worst performance in history.
The Commerce Department reported the deficit in the nation’s current account climbed 11.8 percent from a first-quarter deficit of $39.03 billion.
It was the worst showing on record, topping the old mark of $43.28 billion in the final three months of 1994.
The current account is the broadest measure of America’s trading performance, measuring trade in merchandise, services, investment flows and a category that includes foreign aid payments.
Through the first six months of this year, the current account deficit is running at an annual rate of $165.24 billion, well above last year’s deficit of $151.25 billion.
For the second quarter, the deficit in merchandise climbed to a record $49.04 billion, $4.84 billion above the first-quarter figure.
The surplus in services was up slightly to $15.67 billion, $62 million more than the first quarter.
