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Trade Gap in U.S. Narrows to Lowest Level Since October 2009
The U.S. trade deficit narrowed more than forecast in June to the lowest level since October 2009 as crude oil imports declined and American companies shipped more goods abroad. The gap shrank 22.4 percent to $34.2 billion from a revised $44.1 billion in May that was smaller than previously estimated, the Commerce Department reported today in Washington. The median forecast in a Bloomberg survey of 72 economists called for a $43.5 billion deficit. Exports increased to an all-time high while imports fell to a three-month low. The smaller trade bill, which reflected increased U.S. shipments of capital goods and ... (full story)
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