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Financial News: U.S. Trade Deficit Narrows More Than Expected In

U.S. Trade Deficit Narrows More Than Expected In June

08/04/2022 - 08:46:00 (RTTNews)

(RTTNews) - Reflecting a jump in exports and a modest decrease in imports, the Commerce Department released a report on Thursday showing the U.S. trade deficit narrowed by more than expected in the month of June.

The report showed the trade deficit narrowed to $79.6 billion in June from a revised $84.9 billion in May. Economists had expected the trade deficit to shrink to $81.9 billion from the $85.5 billion originally reported for the previous month.

The decrease in the size of the trade deficit came as the value of exports surged by 1.7 percent to $260.8 billion, while the value of imports edged down by 0.3 percent to $340.8 billion.

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