U.S. Trade Deficit Widened in May as Both Exports, Imports Fell
By Harriet Torry
WASHINGTON -- The U.S. trade deficit widened in May as both
exports and imports declined amid weak global demand caused by
continued coronavirus-related disruptions.
The foreign-trade gap in goods and services expanded 9.7% from
the prior month to a seasonally adjusted $54.6 billion in May, the
Commerce Department said Thursday.
Economists surveyed by The Wall Street Journal had expected a
deficit of $53.0 billion.
Imports decreased 0.9% in May to $199.1 billion. Exports,
meanwhile, fell 4.4% to $144.5 billion. Exports of goods were the
lowest since August 2009, the Commerce Department said.
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(END) Dow Jones Newswires
July 02, 2020 08:58 ET (12:58 GMT)
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