UPSHOT

Trade Deficit Goes Down

Economic slowdown doesn’t necessarily spell doom.

Who says the U.S. doesn’t make anything the world wants anymore? On Thursday, the Commerce Department reported the U.S. sent a record $185 billion in goods and services abroad in June. The trade data represents good news on several fronts. Imports fell in part because of a decline in the value of oil-related stuff we brought in from overseas. (Translation: thanks to lower oil prices, Americans had to spend less cash on overseas oil.) Despite slower growth abroad, foreigners still have a healthy appetite for stuff that’s made in America. And the smaller trade deficit indicates the pace of economic growth is picking up.