Trade gap, consumer borrowing, Kroger wins

A look at some of the major trade events and economic indicators to come this week:

The Commerce Department delivers its monthly snapshot of the country’s trade deficit on Wednesday.

The gap between the value of goods and services the United States sells abroad and what it buys narrowed in June to $79.6 billion, a six-month low. The drop came as exports hit a record high, while imports fell. Economists predict the US trade deficit narrowed to $70.4 billion in July. It would be the smallest trade deficit in a year.

Trade balance, monthly, in billions of dollars, seasonally adjusted:

Feb. -88.1

March -107.7

April -86.7

May -84.9

June -79.6

July (est.) -70.4

Source: FactSet


Americans have stepped up their use of credit this year.

U.S. consumer borrowing, excluding mortgages and other home-secured loans, jumped $40.2 billion in June from May, when consumer borrowing rose $23.8 billion of dollars. June’s increase was the largest in three months and pushed total consumer credit to about $4.63 trillion. The Federal Reserve releases its July snapshot of consumer borrowing on Thursday.

Consumer credit, monthly change, seasonally adjusted, billions of dollars:

January 15.9

February 34.7

47.1 March

April 35

May 23.8

June 40.2

Source: FactSet


Wall Street expects Kroger’s latest quarterly report to show mixed results.

Analysts predict the supermarket operator’s second fiscal quarter profits fell from a year earlier, even as revenue rose. In June, Kroger raised its full-year guidance after posting first-quarter profit and revenue growth. The company, which also owns Ralphs, Dillons and other chains, reports quarterly results on Friday.

Comments are closed.