The U.S. trade deficit in goods and services (BOP basis) fell to $79.61 billion in June from $84.91 billion in May, revised from $85.55 and a record $107.65 billion in March, according to the U.S. Census Bureau. The June deficit was the smallest in six months. An $81.0 billion deficit had been expected in the Action Economics Forecast Survey. Exports grew 1.7% (22.8% y/y) following a 1.5% May rise. Imports eased 0.3% (+20.0% y/y) after increasing 0.6% in May. The trade deficit in goods (customs value) narrowed to $98.18 billion from $104.04 billion in May. It was the smallest deficit since November and compared to a ... (full story)