With the value of imports showing a notable decrease, the Commerce Department released a report on Wednesday showing the U.S. trade deficit narrowed by more than expected in the month of August.
The Commerce Department said the trade deficit narrowed to $67.4 billion in August from a revised $70.5 billion in July.
Economists had expected the deficit to shrink to $68.0 billion from the $70.6 billion originally reported for the previous month.
The decrease in the size of the trade deficit came as the value of imports tumbled by 1.1 percent to $326.3 billion, while the value of exports dipped by 0.3 percent to $258.9 billion.
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