US goods trade deficit shrinks; new home sales extend decline
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The US trade deficit in goods narrowed in June for the first time this year; The goods trade gap contracted 2.5% to US$96.8 billion; Goods exports increased 2.5% to US$172.3 billion; Imports of goods gained 0.7% to US$269.2 billion; The housing market has been the sector hardest hit by the US central bank's aggressive monetary policy tightening; New home sales slipped 0.6% to a seasonally adjusted annual rate of 617,000 units in June; The median new house price dipped 0.1% to US$417,300 in June; The inventory of new homes rose in June to 476,000, the highest level since February 2008



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