WASHINGTON (MarketWatch) — The U.S. trade deficit shrank in June to the lowest level since the fall of 2009, a surprising drop likely to give a boost to the nation’s lackluster 1.7% growth figure for the second quarter. The trade gap plunged 22.4% to $34.2 billion from a downwardly revised $44.1 billion in May, the Commerce Department said Tuesday. Economists surveyed by MarketWatch had forecast the deficit to fall to $43 billion on a seasonally adjusted basis. “Overall, It looks like the U.S. economy ended the second quarter with a bit more positive momentum than we thought,” chief economist Paul Ashworth of Capital Economics said.
Posted on: Tue, 06 Aug 2013 16:17:42 +0000
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