US Trade Deficit Rises 9.7% in May to $54.6 Billion Amid Coronavirus Pandemic
The Commerce Department said Thursday that the gap between the United States buys and what it sells abroad rose 9.7% in May to $54.6 billion, highest since December 2018. The coronavirus pandemic has devastated world trade.
Washington, July 2: The US trade deficit rose for the third straight month in May. Both exports and imports fell as the coronavirus outbreak continued to take a toll on world commerce.
The Commerce Department said Thursday that the gap between the United States buys and what it sells abroad rose 9.7% in May to $54.6 billion, highest since December 2018. The coronavirus pandemic has devastated world trade.
US exports fell 4.4% in May to $144.5 billion, lowest since November 2009. Imports slid 0.9% to $199.1 billion, lowest since July 2010.
(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)