Trade Deficit Shrinks More Than Expected, Commerce Department Reports
The exports increase was led by increases in capital goods of $2.3 billion and industrial supplies and materials of $500 million. Vehicles, parts, and engines saw a $400 million decrease. Consumer goods of $1.9 billion; vehicles, parts, and engines of $700 million; and industrial supplies and materials of $400 million marked import decreases.
The lower than predicted deficit should help spur economic growth. If the deficit continues to decrease, it could encourage third quarter GDP growth.
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