California Business Minute™

The California Redevelopment Association, CRA provides legislative
advocacy, professional development and public education.  In support
of its members it responds to legislative proposals and administrative
regulations.

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Hi, I am Tim Johnson and welcome to the California Business Minute.

The nation’s international trade deficit in goods and services continued to increase to $49.9 billion
 in June from $42.0 billion (revised) in May, as imports increased and exports decreased.

Nationally, exports decreased to $150.5 billion in June from $152.4 billion in May. Goods
were $105.0 billion in June, down from $107.3 billion in May, and services were $45.5 billion in
June, up from $45.1 billion in May. Imports increased to $200.3 billion in June from $194.4 billion
in May. Goods were $167.0 billion in June, up from $161.6 billion in May, and services were $33.3
billion in June, up from $32.8 billion in May.

“While the numbers don’t necessarily look strong from a balance of trade perspective, the reality is
the numbers are going up and the economy is starting to improve” said Michael Faust, president
and CEO of the Northern California World Trade Center.

In California, imports rose to $157 billion while exports continued to increase to $68 billion for the
year.

California exports increased to $12.24 billion up from $11.94 in May exceeding the high benchmark
set in March of $12.2 billion.  California accounted for 11 percent of the nation’s exports second
only to Texas.

I am Tim Johnson and this has been the California Business Minute.