Prior month -$67.3B
The US reports a lower goods trade balance for May of -$64.8B vs -$69.0B estimate and -$67.3B prior. Although still large, it is a step in the right direction for the US administration.
- exports of goods for May were $143.6 billion which is a rise of $2.9 billion versus April exports
- imports of goods for May were $208.4 billion. That is a rise of $0.4 billion versus April
- When both imports and exports rise that is indicative of a stronger economy.
- The deficit is the least since $64.92B in September 2017
Below is the table of the changes in the major categories for goods:
Lowering the deficit is Trump's goal. Whether it is in a positive way, is open for discussion.
