Record imports swell US trade deficit

Record imports, the strong dollar and growing consumer demand helped to widen the US trade deficit by 7.1% in June.

US economy shows signs of shrugging off higher interest rates

WASHINGTON: US home resales surged in August to a 6-1/2-year high and factories grew busier early this month in the Mid-Atlantic region, signs that rising borrowing costs might be weighing only modestly on the economy.