US goods trade deficit narrows 11% in June

The US merchandise trade deficit narrowed in June, with goods imports dropping at a faster pace than exports.

Data released by the US Census Bureau today, July 29, indicated that the goods trade deficit shed $10.4 billion, or 10.8%, to $86 billion last month.

The data showed that US goods exports fell by $1.1 billion month-on-month to $178.2 billion in June.

Meanwhile, imports contracted by $11.5 billion to $264.2 billion for the same month.