Keeping you up to date on the latest data releases.
- International Trade
In May, the U.S. trade deficit expanded $4.9 billion to a level of −$45.0 billion after expanding $3.0 billion to −$40.1 billion the month prior. May’s expansion comes in above consensus forecasts which had predicted a contraction to −$37.6 billion. Imports increased 1.9 percent while exports fell −0.3 percent leading to the overall expansion. Slower global activity continues to weigh down export activity, which has been slower than import activity on a monthly basis for four out of five months in 2013. On a year-over-year basis, imports grew 0.7 percent after contracting &mius;1.4 percent and −5.1 percent in April and March. Exports posted yearly gains of 1.5 percent after rising 1.8 percent in April and falling −0.7 percent in March.