The U.S. trade deficit narrowed more than expected in August as exports increased solidly, likely positioning trade to support economic growth in the third quarter. The trade deficit contracted 9.9% to $58.3 billion, the lowest level since September 2020, the Commerce Department said on Thursday. Data for July was revised to show the trade gap rising to $64.7 billion instead of $65.0 billion as previously reported. Economists polled by Reuters had forecast the trade deficit shrinking to $62.3 billion in August. Exports of goods and services increased 1.6% to $256.0 billion. Goods exports shot up 1.8% to $171.5 ... (full story)