The June 2012 international trade deficit declined 10.7 percent from May, to $42.9 billion. Exports rose 0.9 percent, to $185.0 billion, and imports declined 1.5 percent, to $227.9 billion.
Personal income in June 2012 rose 0.5 percent. Nominal personal consumption expenditures (PCE) was unchanged and real PCE decreased 0.1 percent. Nominal disposable personal income (DPI) rose 0.4 percent and real DPI increased 0.3 percent. The personal saving rate as a percentage of DPI was 4.4 percent in June.
Real gross domestic product (GDP) grew at an annual rate of 1.5 percent in the second quarter of 2012, according to today’s advance estimate. This follows a growth rate of 2.0 percent (revised) in the first quarter of 2012.
The May 2012 international trade deficit declined 3.8 percent from April, to $48.7 billion. Exports rose 0.2 percent, to $183.1 billion, and imports fell 0.7 percent, to $231.8 billion.
Construction spending in May 2012 was $830.0 billion at a seasonally adjusted annual rate, up 0.9 percent from the revised April 2012 estimate and up 7.0 percent from April 2011.
