August 07, 2018
The U.S. Bureau of Economic Analysis indicated that, “The U.S. monthly international trade deficit increased in June 2018. The deficit increased from $43.2 billion in May (revised) to $46.3 billion in June, as exports decreased and imports increased.”
The report mentioned that the previously published May deficit was $43.1 billion. In June, there was a $3.1 billion increase in the goods deficit to $68.8 billion. While, the service surplus decreased less than 0.1 billion in June to $22.5 billion.
There was a decrease in the exports of goods and services, in June, of $1.5 billion or 0.7 percent to $213.8 billion. In relation to this decrease, there was a $1.7 billion decrease in exports of goods reflecting decreases in consumer goods ($1.4 billion), in capital goods ($0.9 billion) and in automotive vehicles, parts, and engines ($0.7 billion). An increase in industrial supplies and materials ($2.0 billion) partly offset the decreases.
Also, an increase of $0.2 billion in exports of services contributed to this decrease, which reflected in an increase in financial services ($0.1 billion).
In June, imports of goods and services increased $1.6 billion or 0.6 percent to $260.2 billion. An increase of $1.4 billion was reflected in imports of goods and imports of services by $0.2 billion. The increase in imports of goods mostly reflected increases in consumer goods ($2.0 billion) and in industrial supplies and materials ($0.9 billion) partly offset by a decrease in capital goods ($1.5 billion).
The increase in imports of services mostly reflected an increase in charges for the use of intellectual property ($0.3 billion), including payments for the rights to broadcast the portion of the 2018 soccer World Cup that occurred in June.
The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.