Growing US trade balance deficit
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, announced that the goods and services deficit was $41.1 billion in May, up $3.8
billion from $37.4 billion in April, revised. May exports were $182.4 billion, $0.3 billion ess than April exports. May imports were $223.5 billion, $3.4 billion more than April imports.
The May increase in the goods and services deficit reflected an increase in the goods deficit of $3.7 billion to $62.2 billion and a decrease in the services surplus of $0.1 billion to $21.1 billion.
Year-to-date, the goods and services deficit decreased $7.2 billion, or 3.5 percent, from the same period in 2015. Exports decreased $47.2 billion or 4.9 percent. Imports decreased $54.3 billion or 4.7 percent.
The average goods and services deficit decreased $1.0 billion to $38.0 billion for the three months ending in May.
* Average exports of goods and services increased $0.1 billion to $181.7 billion in May.
* Average imports of goods and services decreased $0.9 billion to $219.8 billion in May.