US: Trade deficit likely to widen in July to USD49.6bn – Nomura

Analysts at Nomura expect the US trade deficit to widen in July to USD49.6bn, an increase of USD3.3bn from May.

Key Quotes

“In an advance indicators report for the month, goods exports declined 1.7% m-o-m in July while imports increased by 0.9%.”

“As we expect trend-like increases in service imports and exports, we expect the widening goods trade deficit to help push up the overall US trade deficit in July.”