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U.S. Trade Deficit Falls Sharply in June

Posted August 07, 2017

Under Economic Issues, International Trade Issues


(Reuters)

The US trade deficit fell sharply in June as exports increased to their highest level in 2-1/2 years, a positive development for the economy.

The Commerce Department said on Friday the trade gap decreased 5.9 per cent to $43.6 billion, the lowest level since October 2016. May’s trade deficit was revised slightly down to $46.4 billion from the previously reported $46.5 billion.

Economists polled by Reuters had forecast the trade shortfall narrowing to $45.0 billion in June.

When adjusted for inflation, the trade deficit fell to $61.0 billion from $62.8 billion in May. Real goods exports surged to an all-time high of $126.9 billion in June, buoyed by record high petroleum exports. Click here to read more.

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