The U.S. trade deficit fell sharply in June as exports increased to their highest level in 2-1/2 years, a positive development for the economy.
The Commerce Department said on Friday the trade gap decreased 5.9 percent to $43.6 billion, the lowest level since October 2016. May’s trade deficit was revised slightly down to $46.4 billion from the previously reported $46.5 billion.
Economists polled by Reuters had forecast the trade shortfall narrowing to $45.0 billion in June.
