US trade deficit drops to $87.8 bn in June 2023

Retail inventories for June, adjusted for seasonal variations and trading day differences, but not for price changes, were estimated at an end-of-month level of $783.9 billion, up 0.7 per cent (±0.2 per cent) from May 2023, and were up 5.4 per cent (±0.7 per cent) from June 2022. The April 2023 to May 2023 percentage change was unrevised from the preliminary estimate of up 0.7 per cent (±0.2 per cent), according to the ‘Monthly Advance Economic Indicators Report, June 2023’ by the US Census Bureau.

Wholesale inventories for June, adjusted for seasonal variations and trading day differences, but not for price changes, were estimated at an end-of-month level of $908.0 billion, down 0.3 per cent (±0.2 per cent) from May 2023, and were up 1.7 per cent (±0.9 per cent) from June 2022. The April 2023 to May 2023 percentage change was revised from virtually unchanged (±0.2 per cent) to down 0.3 per cent (±0.2 per cent).

ALCHEMPro News Desk (NB)