WASHINGTON (Reuters) – The U.S. trade deficit in goods narrowed in May as imports fell, but the improvement was probably not enough to prevent trade from being a drag on economic growth in the second quarter.
The goods trade deficit decreased 6.1% to $91.1 billion last month, partially reversing April’s surge, the Commerce Department said on Wednesday.
Trade made no contribution to the economy’s 1.3% annualized growth rate in the first quarter after adding to gross domestic product for three straight quarters.
(Reporting By Lucia Mutikani; Editing by Chizu Nomiyama)
