While the Commerce Department released a report on Wednesday showing that the U.S. trade deficit widened in the month of June compared to the previous month, the deficit for the month still came in narrower than economists had been anticipating.

With imports increasing at a faster pace than exports, the report showed that the trade deficit widened to $27.0 billion in June from $26.0 billion in May. Economists had been expecting a somewhat more significant increase in the size of the deficit to $28.7 billion.