U.S. Trade Balance Improves In May As Deficit With China, Europe Shrinks

Jon Economy

Coming in largely as expected, the U. S. monthly international trade deficit decreased in May 2017 from an unrevised $47.6 billion in April (revised)
to $46.5 billion in May, fractionaly worse than consensus expectations of $46.3 billion, as exports increased and imports decreased. According to the BEA, the goods deficit decreased $0.9 billion in May to $67.5 billion. The services
surplus increased $0.2 billion in May to $21.0 billion. The most notably item about today’s release is that the deficit with both the EU and China, the two largest trading partners, shrank by $2.6BN and $2.0BN respectively.
Exports
Exports of goods and services increased $0.9 billion, or 0.4% percent, in May to $192.0 billion. Exports of goods increased $0.2 billion and exports of services increased $0.6 billion.

This post was published at Zero Hedge on Jul 6, 2017.