U.S. Trade Deficit Narrows 10.7%

The U.S. trade deficit in June was the smallest in 1-1/2 years as lower oil prices curbed imports, according to government data on Thursday that suggested an upward revision to second-quarter growth.

The shortfall on the trade balance narrowed 10.7% to $42.9 billion, the smallest since December 2010, the Commerce Department said. Economists polled by Reuters had expected the trade gap to narrow to $47.5 billion.

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