NEW YORK (CNNMoney) -- The gap between U.S. exports and imports narrowed in July to $44.8 billion, according to a government report, which was much better than the $51.1 billion expected.
The number is down from a $51.6 billion trade deficit in June, the Commerce Department said.
A narrower trade gap strengthens U.S. economic growth, so economists usually see it as a welcome sign for the recovery.
July exports totaled $178 billion, an increase of $6.2 billion from the prior month. But imports slipped $500 million, totaling $222.8 billion and resulting in the deficit.
|What we want Apple to unveil at WWDC|
|Millennials squeezed out of buying a home|
|7 traits the rich have in common|
|Big Data knows you're sick, tired and depressed|
|Your car is a giant computer - and it can be hacked|
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||3.85%||3.93%|
|15 yr fixed||2.98%||2.99%|
|30 yr refi||3.93%||3.98%|
|15 yr refi||3.05%||3.05%|
Today's featured rates:
|Latest Report||Next Update|
|Home prices||Aug 28|
|Consumer confidence||Aug 28|
|Manufacturing (ISM)||Sept 4|
|Inflation (CPI)||Sept 14|
|Retail sales||Sept 14|