The US goods trade deficit fell 6.1 percent in May
The US goods trade deficit narrowed 6.1 percent monthly in May to $91.1 billion.
The US Department of Commerce published data on the balance of trade in goods, wholesale and retail inventories for May.
As a result, the goods trade deficit, called the leading foreign trade deficit, narrowed by 6.1 percent in May from the previous month to 91.1 billion US dollars.
Market expectations were for the goods trade deficit to be $92.9 billion in this period. The goods trade deficit was recorded at $97.1 billion in April.
In said period, exports of goods decreased by 1,000 million dollars to 162,800 million dollars, and imports of goods decreased by 6,900 million dollars to 254,000 million dollars.
In addition, wholesale inventories decreased 0.1 percent on a month in May, while retail inventories increased 0.8 percent. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
