US Trade Deficit Narrows as Imports Decline to Lowest Since 2021
- Total shortfall decreased to a three-month low in June
- Value of imports declined due to capital goods, supplies
Imports have largely been decreasing since peaking early last year.
Photographer: Eric Thayer/BloombergThis article is for subscribers only.
The US trade deficit shrank in June as imports slid to the lowest level since 2021, reflecting more moderate consumer demand for merchandise.
The shortfall in goods and services trade narrowed by $2.8 billion to a three-month low $65.5 billion, Commerce Department data showed Tuesday. The figures aren’t adjusted for inflation. The median estimate in a Bloomberg survey of economists called for a $65 billion deficit.