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- U.S. trade deficit narrows less than forecast in June
U.S. trade deficit narrows less than forecast in June
The U.S.
Commerce Department reported on Friday U.S. the goods and services trade
deficit narrows to $55.2 billion in June from a revised $55.3 billion in the
previous month (originally a gap of $55.5 billion).
Economists had
expected a deficit of $54.6 billion.
According to
the report, the June decline in the goods and services deficit reflected a
decrease in the goods deficit of $0.8 billion to $75.1 billion and a fall in
the services surplus of $0.6 billion to $20.0 billion.
Exports of
goods and services from the U.S. dropped 2.1 percent m-o-m to $206.3 billion in
June, while imports decreased 1.7 percent m-o-m to $261.5 billion.
Year-to-date, the
goods and services deficit rose 7.9 percent (or $23.2 billion) from the same
period in 2018. Exports increased less than 0.1 percent (or $0.5 billion),
while imports jumped 1.5 percent (or $23.8 billion).
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