The US’ international trade deficit stood at $86.4bn in July, down 6.2pc or $5.7bn from $92.1bn in June, according to preliminary data from the US Census Bureau. In July, exports rose by $2.2bn to $147.6bn while imports declined by $3.4bn to $233.9bn on a monthly basis.
The country’s wholesale inventory was estimated at $722.5bn at the end of July, up 11pc from the same month in 2020 and 0.6pc from June 2021. Meanwhile, retail inventory levels were measured at $603.2bn for the end of July. In comparison with July 2020, a 3.3pc increase was seen while inventories were up 0.4pc from June 2021.