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Trade gap narrows more than expected in July


Shipping containers are seen at the Port Newark Container Terminal near New York City July 2, 2009. REUTERS/Mike Segar
Shipping containers are seen at the Port Newark Container Terminal near New York City July 2, 2009. REUTERS/Mike Segar

WASHINGTON (Reuters) - The trade deficit narrowed more than expected in July, as imports retreated and exports shot to their highest since August 2008, according to a government report on Thursday that could lift hopes for third-quarter economic growth.

The monthly trade deficit shrank 14 percent to $42.8 billion, which was smaller than the mid-point forecast of $47.3 billion from economists surveyed before the Commerce Department report.

Exports rose to 1.8 percent to $153.3 billion, led by strong overseas demand for U.S. civilian aircraft, machinery, computers and other capital goods.

(Reporting by Doug Palmer, Editing by Chizu Nomiyama)

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