Afternoon Coffee: Trade Deficit Increases In June, Cargo Thefts Decline in Second Quarter

The US trade deficit grew in June by 7% to reach $43.8 billion, the Commerce Department reported. Imports reached $232.4 billion, a jump of 1.2% and exports fell slightly to $188.6 billion from the $188.7 the month before.

The number of cargo thefts declined in the second quarter of the year, with 178 thefts and an average loss of $189,307 in goods reported. The volume of cargo thefts was also down 11% from the first quarter of the year.

General Motors is investing $877 million to improve its pickup truck factory in Flint, Michigan. The project is part of a broader effort by the automaker to upgrade 3 US truck plants.

The Institute for Supply Management non-manufacturing index rose to 60.3 in July, the highest level since August 2005. The reading was higher than the 56.2 economists predicted.

SIGN UP for the Spend Matters newsletter Dirty Rotten Spendrels

Share on Procurious

Discuss this:

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.