Trade Gap Narrowed

The U.S. trade deficit narrowed sharply in June, as improving economic growth overseas propelled exports to their largest monthly increase in three years and imports were unchanged, the government said on Thursday.

The smaller-than-expected trade gap totaled $39.5 billion, down from a revised estimate of $41.5 billion in May. Analysts surveyed before the report had expected the monthly trade deficit to narrow only marginally to $41.6 billion, from the Commerce Department (news - web sites)'s earlier estimate of $41.8 billion in May.

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