July 7, 2026
United States:
US Trade Deficit Widens to Biggest in More Than a Year
The US trade deficit widened in May as a broad-based increase in imports and a decline in exports propelled the gap to the most in more than a year.
The gap in goods and services trade grew 42.2% from the prior month to $77.6 billion, Commerce Department data showed Tuesday.
Europe:
German Industry Grows More Than Expected on Auto Sector
German industrial production grew for a second month, another sign that Europe’s largest economy is exiting the drag from the Iran war.
Output increased 0.9% from a month earlier in May, the statistics office said Tuesday.
Asia:
Gas Demand Set for First Drop Since 2022 on Iran War, IEA Says
Global gas demand is poised for the first annual drop since the 2022 energy crisis because of higher prices caused by the Iran war, according to the International Energy Agency.
That demand destruction has been evident in Asia in the first half, with consumers using less or switching to alternative fuels, while Europe also saw stronger renewables output, the IEA said in a quarterly report published Tuesday.
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