EconomyLens.com
No Result
View All Result
Tuesday, July 15, 2025
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Economy

US trade deficit expands less than expected in May: govt

Thomas Barnes by Thomas Barnes
July 3, 2024
in Economy
Reading Time: 3 mins read
A A
0
46
SHARES
572
VIEWS
Share on FacebookShare on Twitter

The US trade deficit expanded to $75.1 billion in May, from a revised $74.5 billion in April, government data showed. ©AFP

Washington (AFP) – The US trade gap grew slightly less than expected in May, to the widest level since late 2022, government data showed on Wednesday, as exports and imports both slipped.

Related

French PM proposes cutting national holidays to cut debt

Trump says Indonesia to face 19% tariff under trade deal

Tackling debt ‘curse’, France wants to slash holidays

EU threatens US planes and whiskey while pressing for deal

US banks see lower recession risk despite tariff fog

The overall deficit grew to $75.1 billion, from a revised $74.5 billion in April, said the Commerce Department. While this was the largest since October 2022, analysts had initially expected the gap to be the biggest in two years. Even though US consumption has been resilient in the face of higher interest rates, domestic demand has lost steam and there have been concerns that export growth would weaken.

Exports fell more than imports in May, with outbound shipments coming in at $261.7 billion — down by $1.8 billion from April. This came as exports of industrial supplies and materials fell by $2.1 billion. Imports were $1.2 billion less than in April, at $336.7 billion, the report added. Among segments, imports of consumer goods retreated by $2.0 billion — with a decrease in areas like pharmaceutical preparations only partially offset by increases in cell phones and other household goods. Imports of autos and parts also fell by $1.5 billion, said the Commerce Department.

The US goods deficit with China, which had been a point of contention between the world’s two biggest economies, increased by $1.9 billion to $23.9 billion in May. “After nearly two years of positive contributions to growth, trade has been a substantial weight,” said Matthew Martin, US economist at Oxford Economics. “Though imports have grown on balance this year, exports have struggled amid a strong dollar and weak global demand, both of which will take time to abate,” he added. But he expects wage gains and easing inflation to help support growth this year.

© 2024 AFP

Tags: exportsimportstrade
Share18Tweet12Share3Pin4Send
Previous Post

Microsoft to invest 2.2 bn euros in Spain data centres

Next Post

US private hiring eases unexpectedly in June: ADP

Thomas Barnes

Thomas Barnes

Related Posts

Economy

US House set to vote on landmark crypto bills this week

July 15, 2025
Economy

‘Dialogue’ must be at heart of China, Australia ties, PM tells Xi

July 15, 2025
Economy

China’s economy grows 5.2% on trade war truce

July 15, 2025
Economy

Ukraine’s Zelensky proposes new PM, defence minister in major reshuffle

July 14, 2025
Economy

EU still seeks Trump trade deal — but readies retaliation

July 14, 2025
Economy

EU still seeks trade deal after new Trump tariff threat

July 14, 2025
Next Post

US private hiring eases unexpectedly in June: ADP

US Fed officials stressed 'patience' on rate cuts: minutes

Asian stocks extend gains, dollar dips as US data builds on rate hope

China's BYD opens EV plant in Thailand despite slowdown, tariff row

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

New York ruling deals Trump business a major blow

72

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

EU threatens US planes and whiskey while pressing for deal

July 15, 2025

US banks see lower recession risk despite tariff fog

July 15, 2025

Stocks diverge, as US inflation puts focus on Trump’s tariffs

July 15, 2025

Fallen Austrian tycoon Benko charged with fraud

July 15, 2025
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.