Record exports helped push the US trade deficit to its lowest level in six months in July, providing the world economy with another encouraging sign about the health of the US recovery.
The better than expected US data were the latest to show global trade holding up relatively well over the summer even amid growing evidence of a broader slowdown in Europe and other key parts of the world economy.
The US figures released yesterday showed seasonally adjusted exports of goods and services grew by 4.6 per cent to $198bn in July, its biggest monthly total on record.
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