Economic Indicators
U.S. Trade Deficit Narrows Further in June – BEA Data
2022.08.04 16:17
By Scott Kanowsky
Investing.com — The U.S. trade deficit shrank less than expected in June as strengthening international demand offset a domestic slump spurred on by soaring inflation and increasing borrowing costs.
Data from the Bureau of Economic Analysis on Thursday showed the trade deficit fell by 6.2% during the month to $79.6 billion, adding to the 1.3% decline seen in May. Economists had expected the trade balance in the world’s largest economy to come in at $80.1 billion.
Exports of goods and services rose 1.7% from May, while imports contracted by 0.3%.
