US trade gap shrinks in May

Jul 11, 2012 11:36 PM PHT

Agence France-Presse

SUMMARY

This is AI generated summarization, which may have errors. For context, always refer to the full article.

The trade gap shrank to $48.7 billion, down from a revised $50.6 billion in April, the Commerce Department says

WASHINGTON, July 11, 2012 (AFP) – The US trade deficit narrowed for a second consecutive month in May amid weak growth in the world’s largest economy and a global slowdown, government data showed Wednesday.

The trade gap shrank to $48.7 billion, down from a revised $50.6 billion in April, the Commerce Department said.

The May shortfall was slightly better than the $48.9 billion deficit expected by most analysts.

Exports rose 0.2 percent, to $183.1 billion. Imports fell 0.7 percent, to $231.8 billion.

The politically sensitive gap in goods trade with China, the biggest US creditor, widened in May to $26.0 billion from the April reading of $24.5 billion. – Agence-France Presse