Keeping you up to date on the latest data releases.
- International Trade Balance
The nominal trade deficit posted its largest monthly increase on record, widening a greater-than-expected $7.9 billion in June to $49.9 billion. The widening occurred as imports jumped 3.0 percent to $200.3 billion and exports receded 1.3 percent to $150.5 billion. Non-oil imports gained 4.7 percent following a 6.1 percent surge in May. The deficit has increased in the majority of reports this past year and now sits at its highest level since October 2008. June’s rise in imports was evident in both goods and services, and was led by consumer goods, automobiles and parts, and capital goods. The drop in exports most notably reflected declines in capital goods, industrial supplies and materials, and foods, feeds, and beverages. The 12-month growth rate in exports dropped from a recent high of 21.1 percent to 17.7 percent, while the 12-month growth rate in imports inched up further to 29.2 percent.