Economics
U.S. Goods-Trade Gap Widens More Than Forecast as Imports Rise
- Goods imports resume upward trajectory to near-record level
- Automotive exports posted biggest percentage-change decline
Photographer: Ty Wright/Bloomberg
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The U.S. merchandise-trade deficit widened more than forecast in May as the value of imports rose to near-record levels and exports declined.
The deficit increased to $88.1 billion from a revised $85.7 billion in April, according to Commerce Department data released Thursday. The median estimate in Bloomberg survey of economists had called for a $87.5 billion shortfall last month.