Latest News Updates From Augusta Saraiva

The gap in goods and services trade in June shrank 5.6% from the prior month to $73.3 billion, Commerce Department data showed Aug. 4. 

Nonfarm payrolls increased 57,000 last month after downward revisions to the prior two months, according to Bureau of Labor Statistics data released July 2.

The index rose 1.9% in May after a similar advance in April. From a year ago, it increased 6.7%, marking the fastest pace in almost four years.

A separate report that combines inflation figures with wage data showed that real average hourly earnings fell 0.7%, the biggest drop in three-plus years.

The report adds to evidence that the manufacturing sector is holding up even as the Iran war and tariffs drive up input costs.

The gap in goods and services trade grew 4.9% from the prior month to $57.3 billion, Commerce Department data showed April 2.

U.S. job openings fell, and hiring slowed to the weakest since 2020 in February, pointing to cooler labor demand before the war in Iran.

U.S. companies added the most jobs since November last month — 63,000 — adding to evidence of some stabilization in the labor market.

Imports at the busiest U.S. port should start declining as soon as May and are set to fall sharply in the second half of the year as punitive tariffs start to weigh on demand for foreign goods.

The Federal Reserve’s preferred measure of underlying inflation rose at a mild pace in January, while consumers pulled back on spending.