Green shoots of COVID-19 trade recovery as autos reverse 16 month downturn

China 2567 Cons. Discr. - Autos 936 Cons. Discr. - Durables 323 Consumer Staples 602 Coronavirus 408 Energy - Conventional 378 European Union 646 Health Care 248 Industrials - Capital Goods 456 Trade Balance 860 U.S. 4559

U.S. international trade activity appears to be continuing its COVID-19 driven decline in July, with seaborne imports that fell by 6.5% year over year in the first half of the month. The rate of decline is nonetheless slowing with imports from China down by just 2.0% and those from Asia ex-China off by 6.5%. Shipments from the EU are still struggling though and fell by 18.8%. Imports of industrial products continue to decline the fastest with energy and materials down by 19.9% and 19.1% respectively while industrial machinery, equipment and components dropped by 8.9%. Consumer staples an...

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