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U.S. Trade Gap Narrows as Autos Spur Record Exports Increase (1)

Aug. 5, 2020, 12:56 PM

The deficit in U.S. trade of goods and services narrowed in June for the first time since February as exports jumped, though shipments remained well below pre-pandemic levels.

Exports increased from the prior month by 9.4%, the most in records back to 1992 to $158.3 billion, according to Commerce Department data released Wednesday. Imports climbed 4.7%, the most since March 2015, to $208.9 billion.

Both increases reflected a pick-up in shipments of autos and parts after factories restarted production.

The overall gap in goods and services trade narrowed to $50.7 billion, compared to the median estimate of $50.2 billion by ...

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