With seven of the nineteen indicators I expect to see reported this month out, the diffusion index of good news is at 42.9 for July. While this is below the final for June, it is ahead of the pace set in the early third of that month.
The Nation's international deficit in goods and services decreased to $26.0 billion in May from $28.8 billion in April, as exports increased and imports decreased. (A classic good, from the producers’ side.)
The U.S. Import Price Index rose 3.2 percent in June led by higher petroleum prices. The June increase followed a 1.4 percent advance in May. Export Prices also increased in June, rising 1.1 percent after advancing 0.5 percent in the previous month. (While firm pricing is nice for some at this economic juncture, these price rises are just too big. Bad news.)
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