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

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

07/03/2024 - 08:43:00 (RTTNews)

(RTTNews) - A report released by the Commerce Department on Wednesday showed the U.S. trade deficit widened less than expected in the month of May.

The Commerce Department said the trade deficit rose to $75.1 billion in May from a revised $74.5 billion in April.

Economists had expected the trade deficit to increase to $76.2 billion from the $74.6 billion originally reported for the previous month.

The wider trade deficit came as the value of imports fell by 0.3 percent to $336.7 billion, while the value of exports slid by 0.7 percent to $261.7 billion.

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