June 25, 2020, 8:40 a.m. EDT

U.S. trade deficit in goods widens in May as exports fall sharply

The U.S. trade deficit in goods widened 5.1% in May as exports fell sharply, according to the Commerce Department's advanced estimate released Thursday. The gap in goods widened to $74.3 billion in May from a revised $70.7 billion in the prior month. That is a much wider than the $66.5 billion estimate of economists polled by MarketWatch. Exports of goods dropped $5.5 billion to $90.1 in May. Imports fell $1.9 billion to $164.4 billion. The report also showed a 1.2% decline in wholesale inventories in May. And advanced retail inventories were down 6.1%. Excluding autos, retail inventories were down 1.5%.

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