Economic Buzz: US trade deficit up to $118.8B in July

The United States trade deficit in goods rose by 17.2% from June to $118.8 billion in July, according to a preliminary report by the Census Bureau released on Thursday. Exports fell by $6 billion to $199.4 billion, while imports soared by $11.4 billion to $318.2 billion.

Wholesale inventories stood at $959.1 billion, up by 1.3% compared to the previous month. In the same period, the value of retail inventories was reported at $838.5 billion, up 0.7% month-on-month.

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