August 15, 2008

The Commerce Department reports that the U.S. trade deficit narrowed in June to $56.8 billion as exports of goods and services increased more rapidly than imports.

Goods and services exports increased 4 percent in June, the largest increase since February 2004, while imports grew 1.8 percent.

Among the top performers, exports of capital goods, excluding autos, rose by $1.2 billion in June, while exports of food, feeds and beverages rose by $853 million.