Braking Down The News

U.S. Trade Deficit Narrows as Energy Exports Rise

Natural gas, food supplies and gold drove a 1.7% increase in exports, while imports dropped

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The U.S. trade deficit narrowed sharply in June to its lowest level in six months as a rise in shipments of energy products pushed up exports, while cooling consumer appetite weighed on imports.

The trade gap in goods and services shrank 6.2% in June to $79.6 billion after seasonal adjustment, the Commerce Department said Thursday, down from May’s revised deficit of $84.9 billion. That marked the first time the deficit has been below $80 billion since December 2021.

 

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