The US trade deficit in goods widened sharply in May as businesses boosted imports to avoid shortages and higher prices related to the Middle East conflict. The goods trade gap increased 27.4% to $105.8 billion last month, according to the Commerce Department’s Census Bureau.
Trade Impact
Imports of goods increased $10.9 billion to $313.4 billion, while exports fell $11.8 billion to $207.7 billion. This could lead economists to cut their estimates for second-quarter gross domestic product.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
