U.S. trade deficit narrows in May on declining imports

on Jul 08, 2023 05:28:AM

The U.S. trade deficit narrowed in May, with imports of goods dropping to their lowest level since late 2021 as higher borrowing costs slow domestic demand. The trade deficit decreased 7.3% to $69.0 billion, the Commerce Department said on Thursday. Data for April was revised slightly to show the trade gap widening to $74.4 billion […]