- U.S. trade deficit narrows less than forecast in July
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U.S. trade deficit narrows less than forecast in July
The U.S.
Commerce Department reported on Wednesday U.S. the goods and services trade
deficit narrowed to $54.0 billion in July from a revised $55.5 billion in the
previous month (originally a gap of $55.2 billion).
Economists had
expected a deficit of $53.5 billion.
According to
the report, the July decrease in the goods and services deficit reflected a decline
in the goods deficit of $1.6 billion to $73.7 billion and a drop in the
services surplus of $0.1 billion to $19.7 billion.
Exports of
goods and services from the U.S. rose 0.6 percent m-o-m to $ 207.4 billion in July, while imports edged
down 0.1 percent m-o-m to $261.4 billion.
Year-to-date, the goods and services deficit surged 8.2 percent from the same period in 2018. Exports fell 0.2 percent, while imports rose 1.4 percent.
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