Forget the new economy, it appears – judging by July’s preliminary trade data – that USA’s great export is ‘food and beverage’. Thanks to a 31.3% surge month-over-month in this category – the biggest MoM gain in history – the US trade deficit ‘improved’ to -$59.3bn (from -$64.5bn revised lower) and beat expectations of -$63bn.
Does that look sustainable?
Overall, non-seasonally-adjusted, things don’t look quite as rosy…
The post US Trade Deficit Shrinks On Biggest Spike In Food & Beverage Exports In History appeared first on crude-oil.top.