August 12, 2008
Trade Deficit Shrinks 4% In June
By Matthew L. Brown
The country's total exports hit a record $164.4 billion in June, narrowing the trade deficit by 4.1 percent, according to the U.S. Department of Commerce.
The June trade deficit was $56.8 billion, which was down from $59.2 billion in May. June exports were $6.4 billion more than the $158 billion reported in May.
The goods deficit decreased by $2.1 billion in June compared to May and the services surplus increased by $400 million during the same time, the department said. Exports of goods increased by $5.7 billion in June, and exports of services increased by $700 million.
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