The US merchandise-trade deficit shrank in June by more than expected, reflecting a broad decline in imports as the pre-tariff rush to secure goods unwinds.
The shortfall in goods trade narrowed 10.8% from the prior month to $86 billion...
Source: Bloomberg
This deficit was smaller than all economists' forecasts...
Source: Bloomberg
Imports fell 4.2% to $264.2 billion, including the smallest value of inbound shipments of consumer goods since September 2020.
Imports of industrial supplies and motor vehicles also fell. US exports of merchandise decreased 0.6%.
Source: Bloomberg
In addition to the merchandise-trade data, the latest advance economic indicators report showed retail inventories rose 0.3% last month, the most since September and reflecting a surge at car dealers. Stockpiles at wholesalers climbed 0.2%.
More complete June trade figures that include the balance on the services account are due Aug. 5, but for now, this seems like a win for President Trump.
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