Economy USA

The U.S. trade deficit widened in May

WASHINGTON (Reuters) – The U.S. trade deficit widened to 50.23 billion dollars in May, rising oil prices on the level of imports to its second highest record, announced the Commerce Department on Tuesday. The consensus expected a deficit of 44 billion from 43.63 billion in April (revised 43.68 billion). It is the highest since October 2008.

Imports rose 2.6% to 225.1 billion dollars, an unprecedented high since the record high reached in July 2008 to 231,600,000,000.

This increase reflects the weight of crude oil imports, but also that of imports of capital goods and food, which shows that U.S. demand remains strong.

As for exports, they fell 0.5% from April to register to 174.86 billion dollars.

 

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