The U.S. trade deficit unexpectedly narrowed in June as the biggest jump in exports in more than four years overcame record imports of petroleum.

The gap shrank 4.1 percent to $56.8 billion from a revised $59.2 billion in May that was smaller than previously estimated, the Commerce Department said today in Washington.

The increase in demand from overseas signals manufacturers like Caterpillar Inc. may be better able to withstand a slump in U.S. sales and an increase in oil prices. Slowing demand for imported goods excluding petroleum means trade will keep helping the economy after making its biggest contribution to growth in 28 years last quarter.

"This is decidedly good news for the U.S. economy," said David Resler , chief U.S. economist at Nomura Securities International Inc. in New York, in an interview with Bloomberg Radio. "It shows that the U.S. economy is still deriving considerable strength from foreign trade," with gross domestic product in the second quarter probably growing "well north of 2 percent."

Economists had forecast the gap would widen to $62 billion from an initially reported $59.8 billion in May, according to the median of 71 estimates in a Bloomberg News survey. Projections of the deficit ranged from $58 billion to $65.7 billion.

A weaker dollar has helped stoke American exports. The currency has slumped 24 percent versus the euro in the past five years. The dollar has recouped some losses in the past four weeks as the outlook for Europe's economy dimmed. It was little changed after today's figures, at $1.4941 at 8:40 a.m. in New York.

Continued at Bloomberg