U.S. trade deficit in goods narrowed to $96.8B in June due to a 2.5% increase in exports.
U.S. trade deficit in goods narrowed in June due to a rise in exports, but it's likely not enough to prevent trade from dragging on 2Q economic growth. The trade gap's impact on GDP may be offset by increased inventories at wholesalers and retailers. The Commerce Department reported a 2.5% decrease in the trade gap to $96.8B, with goods exports increasing 2.5% to $172.3B, led by a 4.9% surge in food shipments.
July 24, 2024
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