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Financial News: U.S. Trade Deficit Narrows In June Amid Jump

U.S. Trade Deficit Narrows In June Amid Jump In Exports

08/05/2020 - 08:38:00 (RTTNews)

(RTTNews) - Reflecting a sharp increase in the value of exports, the Commerce Department released a report on Wednesday showing the U.S. trade deficit narrowed in the month of June.

The Commerce Department said the trade deficit narrowed to $50.7 billion in June from a revised $54.8 billion in May.

Economists had expected the trade deficit to narrow to $50.1 billion from the $54.6 billion originally reported for the previous month.

The narrower deficit came as the value of exports spiked by 9.4 percent to $158.3 billion, outpacing a 4.7 percent jump in the value of imports to $208.9 billion.

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