The U.S. trade deficit shrank more than expected in July, according to the latest data from the Census Bureau…(BEA)
The goods and services deficit was $70.1 billion in July, down $3.2 billion from $73.2 billion in June, revised.
- EXPORTS: Were up $2.8 billion from June to $212.8 billion.
- IMPORTS: Were down $0.4 billion from June to $282.9 billion.
NOTE: The July decrease in the goods and services deficit reflected a decrease in the goods deficit of $5.5 billion to $87.7 billion and a decrease in the services surplus of $2.4 billion to $17.7 billion.
BEAT THE STREET: Economists had projected a smaller drop to $71.0 billion.