U.S. Merchandise Trade Deficit Widens 27.4% in May to $108.8B

According to the U.S. Department of Commerce, the U.S. merchandise trade deficit widened 27.4% in May to $108.8 billion, marking the largest monthly deficit in over a year. The figure exceeded market expectations of $85 billion. The widening was driven by a 5.4% decline in exports, including industrial goods such as crude oil and petroleum products, coupled with a 3.6% increase in imports.
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