The nation's trade deficit proved a little deeper than expected in
June, at $46.3 billion vs Econoday's consensus for $45.6 billion.
After
a run of strength going back to February, exports posted a 0.7 percent
decline to $213.8 billion in the month with a rise in service exports
offset by a drop in goods exports where capital goods, vehicles and
especially consumer goods posted declines.
Imports, in special
focus of course given the tariff situation, rose 0.6 percent to a
monthly $260.2 billion with consumer goods, the sore spot in the
nation's deficit, rising a sharp $2.0 billion to $53.4 billion. Oil
imports were also up, rising $1.2 billion to $14.1 billion.
Country
data show a deepening deficit with China, at $33.5 billion in June with
the year-to-date deficit 8.6 percent wider at $185.7 billion. Other
year-to-date deficits include an 11 percent deepening with Europe at
$77.6 billion, a 5.5 percent deepening with Mexico at $38.0 billion, and
a 23.4 percent improvement with Canada at $8.1 billion.
Though
deeper than expected in June, the nation's trade deficit has been
improving though the outlook, given tit for tats on tariffs, is
uncertain.
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