US Advance Economic Indicators

Data Macro

Source: Census Bureau
Source Link: https://www.census.gov/
Frequency: Monthly
Next Release(s): April 29th, 2026 8:30 AM

Latest Updates

The advance goods trade deficit widened to $98.5B in December (+19.0% MoM), alongside modest inventory changes.
- Goods exports fell to $180.0B (-$5.6B MoM), while goods imports rose to $278.6B (+$10.2B MoM), showing the deficit increase was driven by both weaker exports and stronger imports.
- Wholesale inventories increased +0.2% MoM to $917.2B and were +2.8% YoY, indicating continued stock accumulation relative to last year.
- The October to November wholesale inventory change remained unrevised at +0.2% MoM, suggesting stable recent inventory growth.
- Retail inventories were essentially flat at $812.5B (0.0% MoM) and +0.8% YoY, pointing to little month-to-month change but modest annual growth.
- The October to November retail inventory change was revised down to -0.5% MoM (from -0.1%), indicating weaker prior stock building than previously estimated.
Source
US Advance Economic Indicators: November 2025 (CANCELED) 2025-12-29 08:30
US Advance Economic Indicators: October 2025 (CANCELED) 2025-11-26 08:30
US Advance Economic Indicators: September 2025 (CANCELED) 2025-10-29 08:30
The US goods trade deficit narrowed sharply in August to $85.5 billion (vs $95.7 billion expected), down -16.8% MoM from $102.8 billion in July, as both exports and imports declined.
- Goods exports fell -1.3% MoM and -0.4% YoY to $176.1 billion, marking a modest pullback from July. Consumer good exports were down -6.8% MoM and -5.4% YoY.
- Goods imports dropped -7.0% MoM and 4.1% YoY to $261.6 billion, a larger decline that drove the narrowing of the deficit. Industrial supplies imports dropped -18.9% MoM and 8.6% YoY.
- Wholesale inventories stood at $905.2 billion, down -0.2% MoM but still +0.7% YoY as nondurable whole inventories dropped -0.6% MoM.
- The prior July wholesale inventory estimate was revised down from +0.1% MoM to virtually unchanged, suggesting flatter mid-summer stock trends.
- Retail inventories came in at $809.4 billion, essentially flat MoM but up +1.0% YoY. When excluding the -0.4% MoM drop in auto inventories, retail inventories were up 0.3% MoM.
- July’s retail inventory change was revised down slightly from +0.2% MoM to +0.1% MoM, softening the earlier estimate.
The US goods trade deficit surged 22.1% MoM in July to $103.6 billion, well above expectations of a smaller increase to $89.5 billion.
- Exports fell -0.1% MoM though were up 3.0% YoY with capital goods exports up 7.0% YoY
- Imports surged 7.1% MoM, driven by a 25.4% MoM increase in industrial supply imports and a 4.8% MoM and 14.7% YoY increase in capital goods imports.
- Wholesale inventories were up 0.2% MoM and 1.3% YoY in July, down from 1.5% YoY in June.
- Retail inventories were up 0.2% MoM as well, with motor vehicle inventories up 0.3% MoM
The US trade deficit dropped -10.8% MoM in June to $86.0 billion (vs $98.4 billion expected), the smallest deficit since August 2023.
- Consumer goods imports saw the largest decline, dropping -12.4% MoM, followed by industrial supplies, down -5.5% MoM.
- Wholesale inventories rose 0.2% MoM and 1.5% YoY in June 2025, while retail inventories increased 0.3% MoM and 2.5% YoY.
- Durable goods wholesale inventories rose 0.1% MoM, while nondurable goods inventories rose 0.3% MoM and 3.8% YoY.
- Retail inventories excluding autos were unchanged MoM but up 4.2% YoY.
- Motor vehicle and parts dealer inventories rose 0.9% MoM but remained down -1.0% YoY.
The U.S. advance goods trade deficit widened to $96.6 billion (vs $88.5 billion expected) in May, up 11.1% MoM, after the sharp decline in imports in April.
- Goods exports fell -5.2% MoM but were still up 6.2% YoY while goods imports were unchanged MoM and up 2.8% YoY.
- Wholesale inventories dropped -0.3% MoM with durable goods inventories falling -0.8% MoM.
- Retail inventories increased 0.3% MoM and are up 3.2% YoY with auto inventories rising 0.6% MoM to a level similar to a year ago. Inventories (ex-autos) increased 0.2% MoM and 4.7% YoY.
The U.S. advance goods trade deficit narrowed sharply to $87.6 billion in April, down -46.0% MoM from $162.3 billion in March, driven by a steep drop in imports.
- Goods exports increased 3.4% MoM and 9.6% YoY, while goods imports normalized, dropping -19.8% MoM (but were still up 2.6% YoY).
- Wholesale inventories were unchanged MoM at $906.9 billion, up 2.1% YoY.
- Retail inventories fell -0.1% MoM to $803.5 billion, but were up 3.5% YoY.
The advance estimate of the US goods trade deficit for March is $162.0 billion, an increase of 9.6% MoM and a huge miss from expectations that the deficit would fall to $146.0 billion.
- While exports increased 1.2% MoM and 6.8% YoY, there was a 5.0% MoM and 30.8% YoY increase in imports led by consumer goods imports up 27.5% MoM and 55.5% YoY.
- Wholesale inventories increased 0.5% MoM in March, building on the 0.5% MoM increase in February.
- Retail inventories were down -0.1% MoM as motor vehicle inventories fell -1.1% MoM and non-motor vehicle retail inventories grew 0.4% MoM.
The US goods trade deficit fell -4.9% MoM to $147.9 billion, above expectations of the deficit falling to $134.5 billion.
- Exports increased 4.1% MoM drive by vehicle exports up 12.7% MoM.
- Imports fell a much smaller -0.2% MoM with the largest decline in industrial supplies (-4.9% MoM).
- Wholesale inventories were up 0.3% MoM and 1.1% YoY.
- Retail inventories were up 0.1% MoM and 4.6% YoY.
The US goods trade deficit surged 25.6% MoM to $153.3 billion in January, well above expectations of a deficit of $114.7 billion.
- Exports increased 2.0% MoM and 1.8% YoY including a 10.9% MoM increase in consumer goods exports.
- Imports surged 11.9% MoM and were up 25.5% YoY as industrial supplies imports were up 32.7% MoM.
- As imports surged, so did wholesale inventories which grew 0.7% MoM after a -0.4% MoM drop in the month before.
- Retail inventories fell -0.1% MoM, on the other hand, including a -1.1% MoM drop in motor vehicle inventories.