Keeping you up to date on the latest data releases.
- International Trade
In July, the U.S. trade deficit expanded by $0.1 billion to $42.0 billion, up slightly from June’s downwardly revised $41.9 billion ($4.9 billion, previously). Both imports and exports fell with the former dropping 0.8 percent to $225.5 billion and the later declining 1.0 percent to $183.7 billion. July marks the first time since April of this year that both imports and exports fell on a monthly basis. On a year-over-year basis, imports rose 0.6 percent, the lowest yearly gain since November 2009. Exports were up 2.8 percent year-over-year in July, a deceleration from June’s 7.3 percent climb and May’s 4.2 percent gain. With the trade deficit expanding less than the consensus forecast of −$44.2 billion, trade is on track to positively contribute to third quarter GDP.