TH: U.S. June trade deficit smallest in 18 months on oil prices
The U.S. trade deficit in June was the smallest in 1-1/2 years as lower oil prices curbed imports, according to government data on Thursday that suggested an upward revision to second-quarter growth.
The shortfall on the trade balance narrowed 10.7 per cent to $42.9-billion, the smallest since December 2010, the Commerce Department said. Economists polled by Reuters had expected the trade gap to narrow to $47.5-billion.
The U.S. trade deficit in June was the smallest in 1-1/2 years as lower oil prices curbed imports, according to government data on Thursday that suggested an upward revision to second-quarter growth.
The shortfall on the trade balance narrowed 10.7 per cent to $42.9-billion, the smallest since December 2010, the Commerce Department said. Economists polled by Reuters had expected the trade gap to narrow to $47.5-billion.
