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U.S. Trade Deficit Dips to 4-Month Low
America's trade deficit with the rest of the world shrank 7% from June to July to $41.9 billion, its lowest total since February, according to the U.S.
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America's trade deficit with the rest of the world shrank 7% from June to July to $41.9 billion, its lowest total since February, according to the U.S. Dept. of Commerce's Bureau of Economic Analysis.
Exports of goods and services in July improved slightly to $188.5 billion, and imports fell 1% to $230.4 billion.
U.S. deficits for July were led by China ($28.8 billion), the European Union ($12.4 billion) and Japan ($5.4 billion). The country's deficit with Mexico shrank by $1.6 billion to $3.8 billion).
BEA says America posted trade surpluses for the month with Central and South America ($2.6 billion), the Organization of the Petroleum Exporting Countries ($700 million) and the U.K. ($300 billion).
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