The US trade deficit narrowed more than expected in July to $42.8 billion as imports fell 2.1 percent, and exports increased 1.8 percent to $153.3 billion, the highest since August 2008. Economists had forecast a deficit of $47 billion, according to a Bloomberg News survey.
“The U.S. still has a decent export market, and that’s providing a cushion for the U.S. manufacturing industry,” said David Sloan, a senior economist at 4Cast Inc. in New York. The trade figures are “good for the third-quarter GDP outlook.”
Source: Bloomberg
