MW: U.S. trade deficit shrinks 5.6% in May to $44.4 billion
By Jeffry Bartash
WASHINGTON (MarketWatch) - The U.S. trade deficit shrank 5.6% in May to $44.4 billion from a revised $47.0 billion in the prior month, the Commerce Department said Thursday. Economists surveyed by MarketWatch forecast a deficit of $44.9 billion. Exports rose 1% to a record $195.5 billion, driven by higher outbound shipments autos, petroleum and fish. Imports dipped 0.3% to $239.8 billion. Demand for foreign oil dropped to the lowest level since November 2010. And the daily average of crude oil imports fell to the lowest in 18 years.
