Earlier from the Department of Commerce reported:
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $44.5 billion in June, up $3.6 billion from $41.0 billion in May, revised. June exports were $183.2 billion, $0.6 billion more than May exports. June imports were $227.7 billion, $4.2 billion more than May imports.
The trade deficit was larger than the consensus forecast of $43.0 billion.
The first graph shows the monthly U.S. exports and imports in dollars through June 2016.
Imports and exports increased in June.
Exports are 10% above the pre-recession peak and down 4% compared to June 2015; imports are down 2% compared to June 2015.
It appears trade might be picking up a little.
The second graph shows the U.S. trade deficit, with and without petroleum.
Oil imports averaged $39.38 in June, up from $34.19 in April, and down from $53.76 in June 2015. The petroleum deficit has generally been declining and is the major reason the overall deficit has declined a little since early 2012.
The trade deficit with China decreased to $29.8 billion in June, from $31.8 billion in June 2015. The deficit with China is a substantial portion of the overall deficit.