U.S. trade deficit increased $2 billion
The U.S. trade deficit in May increased $2 billion from April to $42.3 billion as the growth in imports outpaced that of exports, the U.S. Commerce Department reported.
On a year-over-year basis, the deficit increased $17.4 billion as imports rose 29 percent compared to 21 percent for exports from recession levels.
The $42.3 billion gap in trade is the largest since November 2008.
The United States exported $152.3 billion in goods and services during May and imported $194.5 billion worth of products. May exports increased $3.5 billion from the previous month, while imports increased $5.5 billion.
The deficit for physical goods increased $1.9 billion from April to $54.5 billion. Exports of goods rose $3 billion to $107.2 billion and imports increased $4.9 billion to $161.7 billion.
The United States ran a surplus of $12.2 billion in services.
U.S. trade deficit increased $2 billion
