US merchandise-trade deficit unexpectedly widens in May

The US merchandise-trade deficit unexpectedly widened in May, with exports seeing their biggest drop since the onset of the pandemic, while imports were relatively stable.

According to data released by the Commerce Department on Thursday, the shortfall in goods trade grew 11% to $96.6 billion in May, against forecasts for $86.1 billion.

This came as commodities exports declined by 5.2% to $179.2 billion, while imports stabilized at $275.8 billion during the same month.