Economics
U.S. Goods-Trade Gap Shrinks as Imports Fall From Record High
- The value of exports surged to an all-time high in July
- Inward-bound shipments of consumer goods lead drop in imports
Photographer: Bing Guan/Bloomberg
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The U.S. merchandise-trade deficit narrowed to the smallest in three months in July as imports fell from the highest on record.
The gap decreased to $86.4 billion from a revised $92.1 billion in June, according to Commerce Department data released Friday. That was smaller than all estimates in a Bloomberg survey of economists.