Trade
US Merchandise-Trade Deficit Shrinks on Decline in Imports
- Imports of goods slid in May by the most since November
- Retail inventories climbed, reflecting more motor vehicles
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The US merchandise-trade deficit shrank in May by more than expected as the value of imports slid by the most in six months.
The shortfall in goods trade narrowed 6.1% to $91.1 billion, Commerce Department data showed Wednesday. The figure, which isn’t adjusted for inflation, compared with a $93.7 billion median estimate in a Bloomberg survey of economists.