U.S. Trade Deficit Narrows Slightly More Than Expected In June

(RTTNews) - The U.S. trade deficit narrowed by slightly more than anticipated in the month of June, according to a report released by the Commerce Department on Tuesday.

The Commerce Department said the trade deficit shrank to $60.2 billion in June from a revised $71.7 billion in May.

Economists had expected the trade deficit to fall to $61.6 billion from the $71.5 billion originally reported for the previous month.

The decrease in the size of the trade deficit came as the value of imports plunged by 3.7 percent to $337.5 billion, while the value of exports dipped by 0.5 percent to $277.3 billion.