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Financial News: U.S. Trade Deficit Widens More Than Expected In

U.S. Trade Deficit Widens More Than Expected In May

07/03/2019 - 08:43:00 (RTTNews)

(RTTNews) - A report released by the Commerce Department on Wednesday showed the U.S. trade deficit widened by more than anticipated in the month of May, as the value of imports jumped by much more than the value of exports.

The Commerce Department said the trade deficit widened to $55.5 billion in May from a revised $51.2 billion in April.

Economists had expected the trade deficit to widen to $54.0 billion from the $50.8 billion originally reported for the previous month.

The wider trade deficit came as the value of imports surged up by 3.3 percent to $266.2 billion compared to a 2.0 percent jump in the value of exports to $210.6 billion.

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