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The advance indicators report sharply beat estimates with surprisingly strong exports, weak imports, and a big upside surprise for retail inventories that lifted our Q3 GDP growth estimate to 2.8% from 2.2%, following the boost in Q2 growth to 1.4% from 1.1%. For August trade in goods, the deficit defied an expected bounce with a drop to $58.4 B from a $59.3 "advance" and $58.8 B "final" July figure. Analysts saw a 0.8% August rise for goods exports that extended a 2.9% July surge, alongside a 0.2% rise for imports after a 1.0% July drop. The advance goods data imply an August downtick in the goods and services trade deficit to $39.3 B from $39.5 B in July, with respective August gains for exports and imports of 0.6% and 0.4%. For inventories, the 0.1% August wholesale inventory drop accompanied a 0.5% pop for retailers with a 0.3% ex-auto rise, alongside a 0.1% factory inventory rise that implies a 0.2% rise in August business inventories