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US Goods-Trade Deficit Narrows to Smallest This Year on Record Exports

  • Shortfall shrank in May to $104.3 billion as exports picked up
  • Commerce data also showed increase in retail inventories
Updated on

The US merchandise-trade deficit narrowed in May to its smallest this year as exports rose to a record, suggesting a tailwind for economic growth in the second quarter.

The shortfall shrank 2.2% to $104.3 billion last month, Commerce Department data showed Tuesday. The figures, which aren’t adjusted for inflation, compared with a median estimate for a gap of $104.8 billion in a Bloomberg survey of economists.