U.S. goods trade deficit narrows sharply; core capital goods shipments strong

Published by
Reuters

By Lucia Mutikani WASHINGTON (Reuters) – The U.S. trade deficit in goods narrowed sharply in June amid a surge in exports, which could potentially calm fears that the economy contracted again in the second quarter. Gross domestic product last quarter also likely received a lift from business spending on equipment, with other data from the Commerce Department on Wednesday showing a solid increase in shipments of non-defense capital goods excluding aircraft in June. The reports were published ahead of the release on Thursday of the advance second-quarter GDP estimate. A raft of soft housing data…

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