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

China 2606 Cons. Discr. - Autos 957 Cons. Discr. - Durables 346 Consumer Staples 628 Coronavirus 432 Energy - Conventional 385 European Union 661 Health Care 259 Industrials - Capital Goods 475 Trade Balance 868 U.S. 4645

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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