Courtesy of Mish.
The BLS’ Import and Export Price Report for June shows Import and Exports prices both declined 0.2% from May. Econoday economists called import prices correctly but expected export prices would be flat.
Month-Over-Month Changes
I reordered the charts in the BLS report to highlight what’s important for GDP purposes.
Imports subtract from GDP while exports add to GDP. With export prices falling more, this report is decidedly net negative for second quarter GDP.
Year-Over-Year Changes
Select Import Prices