Trade Deficit Narrowed Significantly

In a surprising turn of events, the United States witnessed a notable decrease in its trade deficit, which stood at $86 billion in June. This marks a $10.4 billion reduction from May's $96.4 billion, exceeding what analysts had anticipated, as per the preliminary report released by the US Census Bureau this Tuesday.

Exports and Imports See a Dip

Goods exports saw a slight decline of $1.1 billion from the previous month, totaling $178.2 billion in June. On the other hand, imports experienced a more substantial drop of $11.5 billion month-on-month, ending at $264.2 billion.

Wholesale Inventories on the Rise

Wholesale inventories edged up by 0.2% monthly, reaching an estimated $907.7 billion by the end of June. Compared to June 2024, this figure represents a 1.5% increase, signaling a steady growth in inventory levels.