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The numbers: The U.S. trade deficit in goods widened 2.6% to $91.2 billion in July, according to the Commerce Department’s advanced estimate released Wednesday.
Economists polled by Econoday were looking for the deficit to rise to $90.8 billion deficit.
Key details: Exports of goods increased $2.4 billion to $164.8 in July. Imports rose $4.7 billion to $256 billion.
The report also showed a 0.1% decline in wholesale inventories. And advanced retail inventories were up 0.3%. Excluding autos, retail inventories were up 0.1%.
Big picture: Trade data has been volatile this year while the underlying trend has been soft.
Economists think that weak growth overseas might dampen U.S. economic growth in coming quarters.
Market reaction: Stocks
DJIA
SPX
were set to open higher on Wednesday. The yield on the 10-year Treasury note
BX:TMUBMUSD10Y
fell to 4.12%.
