15 days ago • Posted by Djellza Kolloni

The U.S. trade deficit shrank in July after reaching a new high the previous month

The trade deficit in the United States shrank in July from a month earlier, owing in part to lower imports of consumer goods due to persisting supply issues and a shift in household spending toward services. According to Commerce Department figures issued Thursday, the gap in goods and services trades decreased 4.3% to $70.1 billion, down from a revised $73.2 billion in June. A bloomberg poll of economists found a $70.9 billion gap as the median projection. Imports of goods and services fell by 0.2% in July to $282.9 billion. Exports increased by 1.3% to $212.8 billion, the highest level since January 2019. Source: Bloomberg