US Goods Trade Deficit Shrinks, But Growth Concerns Persist The US goods trade deficit shrank to $101. 5 billion in June, a 4. 2% contraction from May's figures.
Economists caution that the improvement may not be enough to offset the impact of trade on second quarter GDP growth.
A key factor in the decline is the drop off in exports, which fell to a five month low due largely to a sharp decrease in shipments of industrial supplies, including petroleum.