US trade deficit shrinks in June

The U.S. trade deficit in June decreased by 4.2% to reach $101.5 billion, with imports declining by $8.2 billion to $306.2 billion, despite a 16.6% increase compared to the previous year. This decline, which is believed to be temporary, reflects a reduction in imports due to the halt in inventory rebuilding and the absence of pressure from oil prices, as imports of consumer and capital goods decreased, while exports of cars and consumer goods increased. The data indicate that the current conditions may impact GDP growth, which is forecasted to grow by 2.1% in the second quarter.

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