U.S. trade deficit narrows to $48.7 billion in May as exports to China, Europe rise

U.S. trade deficit narrows in May; exports rise - MarketWatch

  The U.S. trade deficit fell 3.8% in May to $48.7 billion largely because of lower oil imports, while exports rose slightly, the Commerce Department reported Wednesday. Imports in May fell 0.7% to $231.8 billion on a seasonally adjusted basis. Exports rose 0.2% to $183.1 million, with all of the increase occurring on the services side of the economy. Exports of goods were unchanged at $130.7 billion. Exports of goods to China climbed by 5.2% and exports of goods to the European Union rose by 2.6%, mainly because of increased trade with France. Imports of crude oil dropped $2.82 billion in May to $27.42 billion. In April, the trade deficit was revised up to $50.6 billion from $50.1 billion