US trade balance June showed a $73.3 billion deficit, compared with a $73.0 billion estimate.
The June report showed that goods exports fell by $4.0 billion to $206.9 billion. On a Census basis, goods exports dropped by $3.8 billion. Meanwhile, services exports rose by $1.1 billion to $107.8 billion in June.
US Trade Balance June Details
The data pointed to weaker goods exports during the month. However, services exports moved higher and partly offset that decline. The report did not change the headline result, which came in slightly below forecasts.
The source article also noted comments made a day earlier by White House economic advisor Hassett. He referred to what he called good deficits tied to imports of capital goods from overseas. According to the source, those imports support US infrastructure growth, including data centers, and may help future economic growth.
Goods Deficit Stays in Focus
The source article said there is some tolerance for a trade deficit under that view. However, it added that a goods trade deficit above $100 billion remains notable. It also described that level as a negative for GDP.
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Source: InvestingLive
