Economy

U.S. goods trade deficit narrows amid signs the global flow of goods is improving

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Shipping containers are stacked on a ship docked at Yusen Terminals on Terminal Island at the Port of Los Angeles in Los Angeles, January 30, 2019.

Mike Blake | Reuters

The United States’ trade deficit in goods fell sharply in June as exports rebounded following several months of decline, suggesting a recovery in global trade after being severely disrupted by the Covid-19 pandemic.

The shrinking goods trade gap reported by the Commerce Department on Wednesday did not change expectations that the economy contracted at its steepest pace since the Great Depression in the second quarter because of the coronavirus.

The goods trade deficit dropped 6.1% to $70.6 billion last month. Exports of goods…



Source cnbc.com

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