US Trade Deficit Shrinks On Biggest Spike In Food & Beverage Exports In History

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…

 

Charts: Bloomberg

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