by Calculated Risk on 8/04/2022 08:49:00 AM
From the Department of Commerce reported:
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today
that the goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May,
June exports were $260.8 billion, $4.3 billion more than May exports. June imports were $340.4 billion,
$1.0 billion less than May imports.
Exports increased and imports decreased in June.
Exports are up 23% year-over-year; imports are up 20% year-over-year.
The second graph shows the U.S. trade deficit, with and without petroleum.
Note that net, imports and exports of petroleum products are close to zero.
The trade deficit with China increased to $36.9 billion in June, from $27.7 billion a year ago.
The trade deficit was lower than the consensus forecast, and the deficit for May was revised down.
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