WASHINGTON, Aug. 6 (UPI) -- U.S. trade deficit dropped in June as imports declined sharply, possibly boosting second-quarter growth numbers, but also raising concerns about local demand.
The trade gap shrank by 7 percent to $41.5 billion in June, which is the fastest decline since last November, according to the Commerce Department. The decline in imports was attributed to a drop in purchases of foreign goods, including autos and cellular phones, as well as a sharp drop in petroleum imports.