The trade deficit in goods narrowed 6% in May due to lower oil prices and less demand among consumers for imports, perhaps a sign of a softer U.S. economy.
The numbers: The trade deficit in goods narrowed by 6% in May due to lower oil prices and less demand among consumers for imports, perhaps a sign of a softer U.S. economy.
The trade gap in goods declined to $91.1 billion from a six-month high of $97.1 billion in April, the Census Bureau said. Imports of goods fell a steeper 2.7% to $254 billion in May. That’s the smallest reading in six months.
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