U.S. Trade Deficit Narrowed In July

The July trade deficit fell 14% to $42.8 billion, the Commerce Department reported. That was much lower than economists had forecast.

Exports rose 1.8% to $153.3 billion, the best showing since August 2008. Imports trended downward, reflecting the slowdown in the U.S. economy during the spring as businesses cut back on rebuilding inventories and consumer demand slackened under the weight of high unemployment. ◆