U.S. trade deficit narrows in May
The U.S. trade deficit in May decreased $2.8 billion to $26 billion compared to April, it's lowest level in nine years, as U.S. consumers and businesses continued to rein in spending, according to Commerce Department figures released on Friday.
A key factor in the results was a strong showing by exports, which rose 1.6 percent to $123.3 billion on increased sales of industrial machinery, food and feed. Imports fell 0.6 percent to $149.3 billion, as the U.S. brought in less oil and auto parts.
U.S. trade deficit narrows in May
