California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

The nation’s international trade deficit in goods and services increased to $53.1
billion up from $50.8 revised) in May which ballooned from $43.6 billion (revised)
in April. Analysts and economists had forecasted that the deficit would fall to
$48 billion rather than the widening that occurred.  June numbers show that both
exports and imports decreased for the month. 

June exports were $4.1 billion less than May exports of $175.0 billion. June imports
were $1.9 billion less than May imports of $225.8 billion.

In California, export activity rebounded well at $13.8 billion in June up from $13. 1
billion in May, but still below the year’s benchmark high of $13.9 billion in March. 
California remains the second largest state in the nation for exports through June
with $77.3 billion. 

California’s import activity also rose to just over $30 billion up from $28.7 billion
in May. California is the largest state in the nation for import activity through May
with nearly $165 billion.  California remains the second largest in combined
export/import activity in the nation. Texas is first in exports and in combined
export/import activity.

I am Tim Johnson and this has been the California Business Minute.