U.S. Trade Gap Grows as Exports Fall Most in Three Months
This article is for subscribers only.
The U.S. trade deficit widened in May as exports declined by the most in three months, showing businesses were having trouble drumming up sales to overseas customers.
The gap grew 2.9 percent to $41.9 billion from the prior month’s revised $40.7 billion, Commerce Department figures showed Tuesday in Washington. The median forecast in a Bloomberg survey of economists called for a $42.7 billion shortfall. Exports dropped 0.8 percent on declining demand for commercial aircraft and industrial equipment.