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- U.S. trade deficit widens more than forecast in May
U.S. trade deficit widens more than forecast in May
The U.S.
Commerce Department reported on Wednesday U.S. the goods and services trade
deficit widened to $55.5 billion in May from a revised $51.2 billion in the
previous month (originally a gap of $50.8 billion).
Economists had
expected a deficit of $54.0 billion.
According to
the report, the May increase in the goods and services deficit reflected an
increase in the goods deficit of $4.4 billion to $76.1 billion and an increase
in the services surplus of $0.1 billion to $20.6 billion.
Exports of
goods and services from the U.S. rose 2.0 percent m-o-m to $210.6 billion in May,
while imports surged 3.3 percent m-o-m to $266.2 billion.
Year-to-date,
the goods and services deficit rose $15.7 billion, or 6.4 percent, from the
same period in 2018. Exports increased $5.1 billion, or 0.5 percent, while imports
grew $20.8 billion, or 1.6 percent.
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