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UPDATE:The U.S. trade deficit narrowed from a year earlier but widened from the previous month as both imports and exports declined in July, new data from the Census Bureau shows.
During the month, the country exported some $183.3 billion worth of goods while imports totaled $225.3 billion.
At that rate, the trade deficit declined to $42.0 billion from $45.6 billion a year earlier.
The revised June 2011 report showed a trade deficit of $41.9 billion.
Minutes away from the next big data release of the day: the U.S. Trade Balance.
Economists polled by Bloomberg forecast the trade deficit worsened in July from a month earlier, at -$44.0 billion.
If that holds, it would represent some improvement from the year earlier period.
The report is expected at 8:30 a.m.
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