U.S. trade deficit drops $4 billion
The U.S. Census Bureau announced the following international trade, wholesale inventories, and retail inventories advance statistics for June 2023: The international trade deficit was $87.8 billion in June, down $4.0 billion from $91.9 billion in May.
Exports of goods for June were $162.5 billion, $0.4 billion more than May exports. Imports of goods for June were $250.3 billion, $3.6 billion less than May imports.
Advance Wholesale Inventories
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 percent (±0.2 percent) from May 2023, and were up 1.7 percent (±0.9 percent) from June 2022. The April 2023 to May 2023 percentage change was revised from virtually unchanged (±0.2 percent)* to down 0.3 percent (±0.2 percent).
Advance Retail Inventories
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 percent (±0.2 percent) from May 2023, and were up 5.4 percent (±0.7 percent) from June 2022. The April 2023 to May 2023 percentage change was unrevised from the preliminary estimate of up 0.7 percent (±0.2 percent). The July 2023 Advance report is scheduled for release on August 30, 2023.
INDUSTRIAL SUPPLY MAGAZINE
The January/February issue of Industrial Supply magazine features an in-depth cover story about MSC Industrial Supply. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
