The trade deficit narrowed to $65.5 billion in June (consensus -$65.1 billion) from an upwardly revised $68.3 billion (from -$69.0 billion) in May, as exports were $0.3 billion less than May exports and imports were $3.1 billion less than May imports.
The key takeaway from the report is the lack of growth in exports and imports, which is indicative of weaker demand overall at home and abroad.