Trade gap down slightly
Imports outstrip exports by $64.8B in June, down from revised May number.
NEW YORK (CNNMoney.com) -- The U.S. trade gap narrowed slightly in June, according to a government report Thursday.
Imports outstripped exports by $64.8 billion in June, the Commerce Department reported, down from the revised gap of just under $65 billion in May. Economists surveyed by Briefing.com had forecast the gap come in at $64.5 billion, which would have been up from the original May reading.
A 2 percent rise in exports to a record $120.7 billion helped keep the trade gap in check. The export gains were broad based, with consumer goods, computer accessories, aircraft engines, and food, feeds and beverages among the categories seeing the biggest dollar gains.
The value of imports rose 1.2 percent to $185.5 billion, with the seasonally adjusted value of petroleum imports falling 4.6 percent despite higher average oil prices.
The trade deficit with China grew to $19.7 billion, up $2 billion from May. That puts the first-half gap with that key trading partner at $101.8 billion, compared with $90.1 billion in the first half of 2005.