(CercleFinance.com) – The US trade deficit contracted in May due to imports which fell at a faster pace than exports.
The trade deficit fell 7.3% to $69 billion, from -74.4 billion in April, the US Department of Commerce announced on Thursday, a figure fully in line with economists’ expectations.
Exports of goods and services fell 0.8% to $247.1 billion, notably due to a drop in soybean shipments.
Imports fell by 2.3% to 316.1 billion due to a decline in deliveries of pharmaceutical products and industrial equipment.
2023-07-06 12:42:00
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