2018 Economic Calendar
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International Trade in Goods  
Released On 7/26/2018 8:30:00 AM For Jun, 2018
PriorPrior RevisedConsensusConsensus RangeActual
Balance$-64.8 B$-64.8 B$-67.2 B$-71.0 B to $-65.0 B$-68.3 B
Exports % change2.1 %2.6 %-1.5 %
Imports % change0.2 %0.5 %0.6 %

The goods portion of June's trade deficit is a bit deeper than expected, at $68.3 billion vs Econoday's consensus for $67.2 billion. Exports fell 1.5 percent in the month but follow an upward revised 2.6 percent gain in May. Imports rose 0.6 percent and very near an upward revised May increase of 0.5 percent.

There was a very steep decline in exports of consumer goods in June, down 8.5 percent to $16.3 billion, as well as vehicles, down 6.1 percent to $12.7 billion. Capital goods exports, a key U.S. strength, also fell, down 1.8 percent to $47.3 billion. Exports of foods & feeds, which are in focus given trade troubles, dipped 0.5 percent to $14.0 billion.

Imports of consumer goods, the nation's sore point on trade, jumped 3.6 percent to $53.3 billion with vehicle imports up 1.6 percent to $30.2 billion. Imports of capital goods fell 2.7 percent to $57.4 billion with food & feed imports down 1.7 percent to $12.2 billion.

These results may trim back estimates for net exports in tomorrow's second-quarter GDP report but they follow very positive results in May and April.

Consensus Outlook
The goods deficit is expected to widen to a consensus $67.2 in June vs an unexpected low $64.8 billion in May. June's report will update progress on second-quarter net exports and offer the latest on the bilateral deficit with China.

The Census Bureau is now publishing an advance report on U.S. international trade in goods. The Bureau of Economic Analysis will incorporate these data into its estimates of exports and imports for the advance GDP estimates. This is expected to reduce the size of revisions to GDP growth in the second estimates.

Note that data in the advance goods report are accounted for on a census basis and can differ slightly from subsequent data in the international trade report where goods data are accounted for on a balance of payment basis to adjust for changes in ownership that can occur without goods passing into or out of the US.  Why Investors Care

2018 Release Schedule
Released On: 1/262/273/284/265/306/277/268/289/2710/2511/2812/28
Release For: DecJanFebMarAprMayJunJulAugSepOctNov

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