June US trade balance report 5 August 2016

This one slipped through the net while we concentrated on NFP

  • Trade balance -44.5bn vs -43.0bn exp. Prior -41.1bn

  • Exports 0.3% vs -0.1% prior

  • Imports 1.9% vs 1.6% prior

Oil and massive imports from China of computers, mobile phones and clothing helped raise the deficit to the highest in 10 months. On the face of it, you could view the numbers negatively on the just the deficit basis but the items that came in from China could relate strongly to consumer demand, which is good news for the economy.

US trade balance