Keeping you up to date on the latest data releases.
- International Trade
In June, the US trade deficit contracted $9.9 billion to a level of −$34.2 after expanding $4.0 billion the month prior. Coming in lower than the consensus forecast of -$43.5 billion, June’s −$34.2 billion level is the lowest the trade deficit has measured since October 2009. The contraction in the trade deficit was driven by a 2.2 percent increase in exports and a −2.5 percent drop in imports. June marks the first month since March that export activity grew faster than import activity on a monthly basis. On a year-over-year basis, imports fell 1.0 percent after expanding 0.3 percent in May and contracting 1.4 percent in April. At 3.2 percent, exports continued to post year-over-year gains in June after expanding 1.5 percent in May and 1.8 percent in April.