U.S. Trade Deficit Shrank in July

7304/medium" />

The U.S. trade deficit narrowed in July for the fourth month in a row as global demand for U.S. goods and tourism strengthened, while U.S. shoppers’ appetite for imports weakened.

The trade gap in goods and services shrank by 12.6% in July from the prior month to a seasonally adjusted $70.65 billion, the Commerce Department said Wednesday.