U.S. Exports Surge to New All-Time High in July, Led By New Records for American Manufactured Goods

U.S. exports set a new monthly record in July of $178 billion, which was increase of more than 15% from a year ago, and a 3.6% increase from June (see top chart above, full report here).  Export categories that show strong gains in July included industrial supplies (+29.3% from a year ago), capital goods (+8.8%), and automotive vehicles (+29.1%), and all three of these manufacturing categories set new monthly records in July.  

Total trade in July was above $400 billion for only the second time ever, and just shy of the record $401.5 billion total trade in May of this year (see bottom chart above).

MP: The record-setting level of exports in July, along with the near-record total trade in July, suggest that both the U.S. and global economy are continuing to expand, and this trade strength in July does not support by itself support a pending double-dip.  The ongoing strength in U.S. exports of  goods like industrial supplies, capital goods and vehicles, all at record levels in July, indicates ongoing strength in U.S. manufacturing.