Investing.com – The U.S. trade deficit narrowed more-than-expected in July, as exports increased for the first time in three months, official data showed on Thursday.
In a report, the U.S. Bureau of Economic Analysis said that the U.S. trade deficit narrowed to a seasonally adjusted USD44.8 billion in July, compared to a deficit of USD51.6 billion in June, whose figure was revised down from a deficit of USD53.1 billion.
Analysts had expected the U.S. trade deficit to narrow to USD51.0 billion in July.
U.S. exports in July totaled USD178.0 billion, while U.S. imports totaled USD222.8 billion.
Following the release of the data the U.S. dollar was higher against the euro, with EUR/USD falling 0.71% to trade at 1.3998.
Meanwhile, U.S. stock index futures added to losses following the data.
The Dow Jones Industrial Average futures indicated a drop of 0.7%, S&P 500 futures slumped 0.8%, while the Nasdaq 100 futures dropped 0.6%.
In a report, the U.S. Bureau of Economic Analysis said that the U.S. trade deficit narrowed to a seasonally adjusted USD44.8 billion in July, compared to a deficit of USD51.6 billion in June, whose figure was revised down from a deficit of USD53.1 billion.
Analysts had expected the U.S. trade deficit to narrow to USD51.0 billion in July.
U.S. exports in July totaled USD178.0 billion, while U.S. imports totaled USD222.8 billion.
Following the release of the data the U.S. dollar was higher against the euro, with EUR/USD falling 0.71% to trade at 1.3998.
Meanwhile, U.S. stock index futures added to losses following the data.
The Dow Jones Industrial Average futures indicated a drop of 0.7%, S&P 500 futures slumped 0.8%, while the Nasdaq 100 futures dropped 0.6%.