U.S. Trade Deficit Drops 4.1%

The U.S. trade deficit fell by 4.1% in June, on a big jump in exports, the Commerce Department said Tuesday.

The trade gap fell to $56.8 billion from a revised $59.2 billion in May that was higher than originally reported, Commerce said.

Economists had forecast the deficit would increase to $62 billion, Bloomberg reported.

Exports jumped 4%, the biggest percentage increase since February 2004, to $164.4 billion, while imports rose by 1.8% to $221.2 billion, Commerce said.