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Economic Report: U.S. trade gap widens and retail inventories rise in new advance look at economy

Bloomberg

An U.S. flag flies as cranes for unloading shipping containers stand at the Port of Los Angeles in San Pedro, California

WASHINGTON (MarketWatch) — The advanced trade gap widened to a seasonally adjusted $63.3 billion from $61.1 billion in June and some of the imported goods boosted retail inventories, the Commerce Department said Thursday.

The June trade gap was wider than the $61.0 billion gap estimated in a MarketWatch-compiled economist poll.

Both import and exports grew in June with imports rising faster. Imports rose $3.3 billion to $183.5 billion while exports rose $1.1 billion to $120.2 billion.

The advanced report excludes services, a category that tends to work in the U.S.

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