The US trade balance is expected to narrow in June 2023, according to AC Investment Research. The median forecast is for a deficit of $84.6 billion, down from $87.1 billion in May 2023.
The narrowing of the trade deficit is expected to be driven by a decline in imports, which are expected to fall 0.5% from May. Exports are expected to rise 0.2%.
The decline in imports is likely due to a number of factors, including the strong dollar and the ongoing trade war between the US and China. The strong dollar makes imports more expensive for Americans, while the trade war has led to tariffs on a wide range of goods.
The rise in exports is likely due to strong global demand for American goods. The US economy is growing at a healthy pace, and businesses are investing in new equipment and hiring new workers. This is leading to increased demand for American goods from around the world.
The narrowing of the trade deficit is good news for the US economy. It means that the US is importing less than it is exporting, which helps to reduce the trade deficit. A smaller trade deficit can boost economic growth by increasing the amount of money that is available for investment and consumption.
The trade deficit is expected to remain in the red for the foreseeable future. However, the narrowing of the deficit is a positive sign for the US economy. It suggests that the trade war is having a limited impact on the economy, and that the US is still able to export goods to the rest of the world.
People also ask
⚐ What are the top stocks to invest in right now?☵ What happens to stocks when they're delisted?