US goods trade deficit narrows in May
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2023-06-28 20:49
WASHINGTON The U.S. trade deficit in goods narrowed in May as imports fell, but the improvement was probably

WASHINGTON The U.S. trade deficit in goods narrowed in May as imports fell, but the improvement was probably not enough to prevent trade from being a drag on economic growth in the second quarter.

The goods trade deficit decreased 6.1% to $91.1 billion last month, partially reversing April's surge, the Commerce Department said on Wednesday.

Trade made no contribution to the economy's 1.3% annualized growth rate in the first quarter after adding to gross domestic product for three straight quarters.

(Reporting By Lucia Mutikani; Editing by Chizu Nomiyama)

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