The U.S. Census Bureau this week released advance indicators showing that the international trade deficit declined while wholesale inventories increased in July.
The international trade deficit was $86.4 billion in July, down $5.7 billion from $92.1 billion in June. Exports of goods for July were $147.6 billion, $2.2 billion more than June exports. Imports of goods for July were $233.9 billion, $3.4 billion less than June imports.
Wholesale inventories for July, adjusted for seasonal variations and trading day differences, but not for price changes, were estimated at an end-of-month level of $603.2 billion, up 0.4% from June, and were up 3.3% from July 2020. The May to June percentage change was revised from up 0.3% to up 0.5%.