US trade gap widens as Chinese goods flood in

The US current account deficit widened to a record $225.6bn (£150.99bn) last quarter, as the trade gap grew and the country paid more interest to overseas investors. The shortfall in the current account, the broadest measure of trade because it includes transfer payments and investment income, followed a revised $217.1bn second-quarter gap, the Commerce Department said in Washington. The trade deficit ballooned last quarter when oil prices surged and imports from China flooded in. Stronger economies abroad and a weakening dollar suggest exports will strengthen and the trade balance will i...