Economics
US Goods-Trade Gap Narrows to Least Since October as Imports Drop Again
- Vale of consumer-goods imports fell most since at least 1992
- Overall imports declined 3.5% to $270 billion, Census says
The Port of Los Angeles in San Pedro, California.
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
The US merchandise-trade deficit narrowed in July to the smallest since October as imports fell for a fourth month, suggesting a tailwind for economic growth in the third quarter.
The shortfall shrank 9.7% to $89.1 billion last month, Commerce Department data showed Friday. The figures, which aren’t adjusted for inflation, compared with a median estimate for a gap of $98.5 billion in a Bloomberg survey of economists.