U.S. Economy: Smaller Trade Gap Is Bright Spot for Recovery

The U.S. trade deficit narrowed more than forecast in July as exports climbed to a record, offering a bright spot for an economy at risk of a bigger slowdown.

The gap shrank 13.1 percent, the most since February 2009, to $44.8 billion from a revised $51.6 billion shortfall in June, Commerce Department figures showed today in Washington. Exports rose as companies shipped more capital goods and automobiles overseas.