Wednesday, August 6, 2014

Trade Deficit Dropped to $41.5 Billion in June

The U.S. trade deficit shrank for the second consecutive month in June, dropping 7.0% to $41.5 billion. The deficit is the lowest it has been in 5 months. Both increasing exports and decreasing imports contributed to the overall decline in the trade deficit.

The report beat expectations, particularly given rising global political tensions. Exports improved 0.2% to $195.9 billion. Imports declined 1.2% to $237.4 billion. The goods and petroleum deficits shrank while the services surplus remained the same from the previous month.

The real goods deficit, which is important for the calculation of GDP, shrank to $48.8 billion.

Read the Census report.

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