2023-06-28 22:01:34
The US merchandise trade deficit narrowed in May as imports fell, but the improvement is likely not enough to prevent trade from being a drag on economic growth in the second quarter.
The Commerce Department said the goods trade deficit fell 6.1 percent to $91.1 billion last month, following rising in April.
Trade did not contribute to the economy’s annual growth rate of 1.3% during the first quarter following contributing to an increase in GDP for three consecutive quarters.
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