Keeping you up to date on the latest data releases.
- U.S. Trade
The U.S. trade deficit narrowed 13.1 percent to $44.8 billion in June, decreasing $6.8 billion from June’s revised $51.6 (previously $53.1 billion). The decline from June to July was the largest since February 2009, showing a strong start to the third quarter. Exports jumped $6.2 billion to 178.0 billion, posting a new nominal record, while imports fell $0.5 billion to $222.8 billion. July’s 0.2 percent decline in imports stems from decreases in the price adjusted categories of food and beverages (down 4.1 percent) and industrial supplies (down 3.2 percent). Despite the overall import decline, real imports of automobiles jumped 15.5 percent from June to July. Year-over-year, imports rose 13.6 percent, up slightly from June’s 13 percent gain. Exports climbed 3.6 percent after falling last month and were up 15.1 percent on a year-over-year basis. Gains were driven by a 11.3 percent surge in real auto exports, as well as strong numbers from price adjusted categories of food and beverages (up 3.2 percent), industrial supplies (up 6.8 percent), and non-auto capital goods (5.4 percent). Exports of capital goods ($42.1 billion) and automotive vehicles, parts and engines ($12.1 billion) posted record levels as well.