U.S. trade deficit shrinks in June

The U.S. trade deficit narrowed in June as exports rebounded following several months of decreases, suggesting an improvement in global demand after being depressed by the COVID-19 pandemic.

The Commerce Department said the trade deficit fell to $50.7 billion from $54.8 billion. Economists polled by Reuters had forecast the trade gap would narrow to $50.1 billion in June. (Reporting By Lucia Mutikani; Editing by Andrew Heavens)