Braking Down The News

U.S. Trade Gap Narrowed in May as Imports of Goods Slowed

American companies, meanwhile, exported more oil and natural gas as the Ukraine crisis deepened

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The U.S. trade deficit narrowed for the second consecutive month in May as imports were held down by lower goods spending by American households and exports jumped on energy shipments.

The trade gap in goods and services shrank 1.3% in May from the previous month to $85.5 billion, the Commerce Department said Thursday, down from April’s revised $86.7 billion.

 

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