US trade gap holds steady in July

WASHINGTON (AFP) - (AFP) - The US trade deficit barely widened in July, to $42.0 billion from a revised $41.9 billion in June, the Department of Commerce said Tuesday. The stable reading was unexpected. Most analysts had forecast the trade gap would widen to $44.0 billion from June's initial estimate of $42.9 billion. Both exports and imports declined last month. Exports of $183.3 billion were $1.9 billion less than in June, led by decreases in industrial supplies and materials, off $2.4 billion. The world's biggest economy imported $225.3 billion in goods and services, a drop of $1.8 billion from June. Before stabilizing last month, the US trade gap had narrowed for three consecutive months, including a drop of more than 10 percent in June.