Business: Pinch in Exports

For the first peacetime month since the depression times of 1937, the U.S. imported more than it exported last June. Excluding military goods, exports dipped to $1,348,000,000 and imports rose to $1,369,000,000, up a walloping 33% from the year-ago level. Reporting the figures last week, the Commerce Department warned the U.S. to expect several more months of trade imbalance. In 1959 the U.S. will show an export surplus, but just barely. Exports, which dropped from a record $19.5 billion in 1957 to $16.3 billion last year, will slide to an estimated $16 billion. Imports will go up from $12.8 billion...

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