U.S. trade, inventory data pose downside risk to second-quarter GDP

U.S. economic growth in the second quarter could surprise on the downside after data on Thursday showed a widening in the goods deficit in June and a moderate pace of inventory accumulation. The Census Bureau's new advanced economic indicators report showed the advance goods deficit rising 3.7 percent to $63.3 billion last month as imports outpaced export growth. Following the advance goods trade and inventories data, the Atlanta Federal Reserve lowered its second-quarter gross domestic product