Trade deficit drops 2.3% in May, but the trend is no friend

• July 6, 2017
• realestate
• Business & Markets, Real Estate Finance

The trade deficit fell 2.3% in May largely because of fewer imports of cell phones and other consumer goods, but the longer-run outlook for the U.S. was still grim. The deficit slipped to $46.5 billion in May from $47.6 billion in April, the Commerce Department said Thursday. Economists polled had forecast a $46.3 billion gap.