U.S. Trade Deficit Dips to $59.8 Billion

As exports gained, the U.S. trade deficit declined in May to $59.8 billion, the Commerce Department reported July 11.

The deficit in goods and services fell from a revised $60.5 billion in April, and was narrower that the $62.2 billion expected by analysts.

Exports increased to $157.5 billion in May from $156.2 billion in April. Imports increased a smaller amount to $217.3 billion from $216.7 billion.

The deficit with China increased to $21 billion from $20.2 billion.

Copyright Agence France-Presse, 2008