MW:U.S. trade gap of $50.2 billion highest since 2008
WASHINGTON (MarketWatch) -- The U.S. trade deficit jumped 15.1% in May to $50.2 billion, the highest level in almost three years, largely because of the highest cost of oil imports, according to Commerce Department data. The trade gap, which widened from a seasonally adjusted $43.6 billion in April, was the biggest since October 2008. Economists surveyed by MarketWatch forecast the trade deficit to rise to $44.5 billion. The trade deficit in petroleum alone totaled $30.4 billion, also the highest level since October 2008. Imports increased 2.6% to $225.1 billion, while exports fell less than 1% to $174.9 billion.
