(RTTNews) - The U.S. trade deficit unexpectedly narrowed in May, government statistics showed on Friday. This came as export growth outstripped that of imports.

The U.S. Commerce Department revealed that the country’s trade deficit narrowed to $59.79 billion in May. This compared to revised shortfall of $60.50 billion in April.

Economists had expected the trade deficit to widen during the month, projecting a figure of about $62.7 billion compared to April’s original reading of $60.90 billion.

Imports rose in May by 0.3%, climbing to a level of $217.3 billion. Exports grew by a faster rate, rising 0.9% to $157.6 billion.

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Posted in Categories: Economy, Releases, USA.

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