Reported 12 months ago
The US trade deficit in May widened to the largest since 2022 due to a decrease in exports surpassing the drop in imports. The gap in goods and services trade expanded to $75.1 billion, the widest since October 2022. The trade deficit is expected to impact gross domestic product negatively for a second consecutive quarter, with a decline in shipments of goods to overseas markets and a decrease in US imports amid restrained consumer spending and higher retail inventories.
Source: YAHOO