The trade deficit in the U.S. narrowed more than forecast in July as imports fell and exports climbed to the highest level in almost two years.
The gap shrank 14 percent, the most since February 2009, to $42.8 billion, Commerce Department figures showed today in Washington. Economists forecast a deficit of $47 billion, according to the median of 73 projections in a Bloomberg News survey. Imports fell 2.1 percent, while exports increased 1.8 percent to $153.3 billion, the highest since August 2008.
Shipments abroad will probably remain a source of strength for U.S. manufacturers as the world’s largest economy tries to sustain a recovery from the worst recession since the 1930s.
http://www.bloomberg.com/news/2010-09-09/u-s-trade-deficit-narrows-more-than-forecast-as-exports-hit-two-year-high.html
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