The US trade deficit shrank 6 per cent in July to $34.55 billion, led by record exports of US cars and high volumes of civilian aircraft and food, the US commerce department said today.
The monthly decline in the trade gap was the largest since the US dollar began to weaken against other major currencies earlier this year.
US manufacturers have pushed for a weaker dollar to make it easier to expand their overseas sales. The July trade gap was well below the average estimate of $37.05 billion by analysts surveyed before the report.
