Trade Deficit in U.S. Narrows to $64.8 Billion on Sales of Business Goods

BY

The U.S. trade deficit narrowed in June as exports rose to a record, helped by a pickup in economic growth abroad and a weaker dollar.

Imports exceeded exports by $64.8 billion, following a $65 billion shortfall in May that was larger than previously reported, the Commerce Department said in Washington. American imports of cars and consumer goods such as televisions and apparel also rose. The gap with China was the third-largest ever.

Accelerating economic growth in Europe and rising business confidence in Japan is spurring demand for business equipment such as computers, aircraft engines and machinery. A rising imported- crude oil bill along with consumer appetites for foreign-made goods may make a substantial improvement in the trade deficit difficult.

[ Last edited by BY on 2006-8-10 at 09:58 PM ]