By Greg Robb
WASHINGTON (MarketWatch) -- The U.S. trade deficit widened by 12.1% in May to $45.0 billion, the Commerce Department said Tuesday. This is the largest deficit since last November and was well above expectations. Wall Street economists polled by MarketWatch had forecast a deficit of $40.3 billion. The deficit has jumped in two straight months after falling to $37.1 billion in March, which was the lowest since October 2009. Despite the sharp gains, the deficit for the first five months of the year remains below the trade gap in the same period last year. Imports rose in May while exports inched lower. The U.S. trade deficit with China widened to $27.9 billion in May compared with $26.0 billion in the same month last year.
