US initial jobless claims was unchanged at 218k in the week ending June 1, slightly above expectation of 215k. Four-week moving average of initial claims dropped -2.5k to 215k. Continuing claims rose 20k to 1.682m in the week ending May 25. Four-week moving average of continuing claims dropped -1k to 1.673m.
Trade deficit dropped -2.1% to USD -50.8B, slightly larger than expectation of USD -50.5B. Exports dropped -2.2% to USD 206.8B. Imports dropped -2.2% to USD 257.6B.
With China, in April, deficit increased USD 2.1B to USD 29.4B. Exports decreased USD 1.8B to USD 8.5B and imports increased USD 0.3B to USD 37.9B. In Q1 after revisions, deficit decreased USD 22.9B to USD 80.8B. Exports increased USD 4.9B to USD 41.4B and imports decreased USD 18.0B to USD 122.2B.
