Economic Report Highlights 08/14/2007
July Producer Prices increased by 0.6%, led by a strong increase in energy prices. This was higher than the pre-report estimate of 0.2%. However, the “core” index, which excludes energy and food prices, rose by a less-than-expected 0.1%.
The U.S. trade deficit for June narrowed to $58.1 billion, the lowest figure since February, as U.S. exports of industrial supplies helped to offset rising crude Oil imports.
Mike Zarembski, Senior Commodity Analyst
