Keeping you up to date on the latest data releases.
- International Trade
The U.S. trade deficit widened 4.5 percent to $53.1 billion in June, increasing $2.3 billion from May’s revised $50.8 billion ($50.3 billion, previously). Exports (down $4.1 billion to $170.9 billion) fell more than imports (down $1.9 billion to $223.9 billion) causing the overall deficit to widen. June’s 0.8 percent decline in imports stems from decreases across most categories including industrial supplies and materials (down 1.3 percent), capital goods and consumer goods (down 0.4 percent), and automotive vehicles, parts and engines (down 1.2 percent). Food and beverages were the only major category to post gains (up 4.6 percent). Year-over-year, imports rose 13 percent in June, down from May’s 16.2 percent gain. Exports dropped 2.3 percent in June, posting the largest decline since January 2009. Additionally, the decrease in exports for both May and June marked the first back-to-back decline since the recovery began. Although exports fell in June, they were up 12.9 percent on a year-over-year basis. Gains in consumer goods exports (up 4.7 percent) were offset by decreases in food and beverages (down 8.2 percent), industrial supplies and materials (down 4.2 percent), and capital goods (down 3.9 percent).