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US June Advance Trade Gap Narrows, Inventories Mixed

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The US advance international trade in goods deficit narrowed to $101.46 billion in June from $105.89 billion in May, according to data released by the US Census Bureau, compared with a narrower gap of $100.0 billion expected in a survey compiled by Bloomberg as of 7:40 am ET.

Imports fell by 2.6%, while exports fell by 1.8%.

In the same report, wholesale inventories rose by 0.3% in June, the same as in May. Analysts polled by Bloomberg expected wholesale inventories to increase by 0.4%.

Retail inventories held steady in June following a 0.5% increase in the previous month. compared with the 0.4% increase expected by analysts. Excluding a 0.4% gain in motor vehicle inventories, retail inventories were down 0.2% in the month.

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