The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced that the Trade Deficit fell in May to $48.7 billion, down from $50.6 billion in April.
Total May exports were $183.1 billion and imports were $231.8 billion. May exports were $0.4 billion more than April exports of $182.7 billion. May imports were $1.6 billion less than April imports of $233.3 billion. Cheaper oil from abroad helped to narrow the trade deficit.
Read the release.