U.S. trade deficit narrows in June for 3rd straight month

PanARMENIAN.Net - The U.S. trade deficit narrowed in June for the third straight month, with a slight rise in exports adding to a drop in imports to cut the shortfall, the Department of Commerce said Thursday, August 9.

Analysts called the data on balance positive, but the politically sensitive trade shortfall with China continued to grow, despite efforts by US leaders to bring it under control.

The country's trade gap for the month was $42.9 billion, the smallest deficit since December 2010, when total trade was 10 percent less.

Exports continued their steady climb, rising to $185.0 billion. The three month moving average for exports, at $183.7 billion, was 5.1 percent above the average of a year earlier of $174.7 billion.

Imports were $227.9 billion; the three month average of $230.9 billion was up 4.1 percent from a year earlier.

The rise in exports came on the back of strengthening shipments of capital goods and industrial supplies.

The fall in imports was related to a sharp downturn in industrial supply purchases from abroad, AFP reported.