US Trade Deficit Surges 11% in May Amid Export Decline

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US Trade Deficit Surges 11% in May Amid Export Decline
Photo: Damian Dovarganes AP/TT

The deficit grew 11 percent to 96.6 billion dollars in May, according to statistics from the US Department of Commerce. The average forecast among analysts was a deficit of 86.1 billion dollars.

Exports in May decreased 5.2 percent to 179.2 billion, while imports were largely unchanged at 275.8 billion.

A second calculation of the US GDP for the first quarter shows at the same time that the country's economy contracted by 0.5 percent during the period January–March. It was a larger decline than the expected 0.2 percent.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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