June Trade Deficit Narrows

The U.S. trade deficit narrowed by 1.7% in June as exports surged to a record, the Commerce Department said Tuesday.

The trade gap of $58.1 billion was below the $61 billion forecast by economists, Bloomberg reported.

The May trade gap was $59.2 billion, smaller than originally reported, Commerce said.

June exports rose to a record $134.5 billion on improved sales of petroleum products, semiconductors and automobiles.