US: Goods and services deficit was $46.5 billion in May, down $1.1 billion from $47.6 billion in April

According to the data the U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, the goods and services deficit was $46.5 billion in May, down $1.1 billion from $47.6 billion in April, revised.

Key highlights:

• May exports were $192.0 billion, $0.9 billion more than April exports
• May imports were $238.5 billion, $0.2 billion less than April imports
• The May decrease in the goods and services deficit reflected a decrease in the goods deficit of $0.9 billion to $67.5 billion and an increase in the services surplus of $0.2 billion to $21.0 billion
• Year-to-date, the goods and services deficit increased $27.0 billion, or 13.1 percent, from the same period in 2016. Exports increased $54.3 billion or 6.0 percent. Imports increased $81.4 billion or 7.3 percent