U.S. Trade Deficit Shrinks in June

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Tim Rue/Bloomberg News
The U.S. trade deficit shrank 11% in June, the Commerce Department said Thursday.

The gap between imports and exports fell to $42.9 billion, from $48 billion in May.

Economists had projected a $47.5 billion trade gap, Bloomberg reported.

Imports decreased 1.5% to $227.9 billion, while exports increased 0.9% to $185 billion.