Goods and services trade balance narrows to $70.1B

• July International Trade in Goods and Services: -$70.1B vs. -$74.1B consensus and -$73.2B prior (revised from -$75.7B).
• July exports were $212.8 billion, $2.8 billion more than June exports.
• July imports were $282.9 billion, $0.4 billion less than June imports.
• The July decrease in the goods and services deficit reflected a decrease in the goods deficit of $5.5 billion to $87.7 billion and a decrease in the services surplus of $2.4 billion to $17.7 billion.
• The average goods and services deficit increased $1.1 billion to $70.6 billion for the three months ending in July.