Wednesday, July 3, 2013

Trade Gap Widened in May

The trade deficit increased in May to $45.0 billion, a 12.0% increase from a revised $40.1 billion deficit in April. The increase in May is the second consecutive month to report an increased trade deficit. Rising imports solely contributed to the increase in the deficit.

Exports shrank by 0.3% from April to $187.1 billion. Imports grew by 1.9% to $232.1 billion. The services surplus improved slightly by $0.1 billion to $18.4 billion.

Read the Census report.

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