US goods and services trade deficit dropped -2.7% to USD -54.0B in July, slightly smaller than expectation of USD -54.2B. Exports rose 0.6% to USD 207.4B while imports dropped -0.1% to USD 261.4B. Trade deficit with China dropped USD -0.5B to USD 29.6B in July. Exports dropped USD -0.3B to USD 9.3B while imports dropped USD -0.8B to USD 39.0B.
Also released, Canada trade deficit widened to CAD -1.1B in July, versus expectation of CAD 0.2B. Labor productivity rose 0.2% qoq in Q2, above expectation of 0.1% qoq.
