Economic Report: U.S. trade deficit in goods widens in July


The numbers: The U.S. trade deficit in goods widened 2.6% to $91.2 billion in July, according to the Commerce Department’s advanced estimate released Wednesday.

Economists polled by Econoday were looking for the deficit to rise to $90.8 billion deficit.

Key details: Exports of goods increased $2.4 billion to $164.8 in July. Imports rose $4.7 billion to $256 billion.

The report also showed a 0.1% decline in wholesale inventories. And advanced retail inventories were up 0.3%. Excluding autos, retail inventories were up 0.1%. 

Big picture: Trade data has been volatile this year while the underlying trend has been soft.

Economists think that weak growth overseas might dampen U.S. economic growth in coming quarters.

Market reaction: Stocks DJIA SPX were set to open higher on Wednesday. The yield on the 10-year Treasury note BX:TMUBMUSD10Y fell to 4.12%.

This article was originally published by Read the original article here.

Previous articleFutures market reflecting higher likelihood that Fed is finished with rate hikes
Next article: U.S. Dept. of Health and Human Services recommends re-scheduling cannabis, as stocks in the sector rally


Please enter your comment!
Please enter your name here