The U.S. trade deficit widens in May to a 14-month high, driven primarily by higher imports linked to capital goods purchases tied to investment, including spending related to artificial intelligence. According to the sources, the goods and services trade gap reaches $77.6 billion. Imports rise to a record $395.3 billion, with capital goods imports hitting a record level. Exports decline over the same period: one source reports exports fall 3.2%, while another says exports drop alongside the increase in imports. The data also indicate that trade remains a negative contributor to economic growth for a second consecutive quarter, as the higher import bill outweighs export performance. Overall, the gap reflects a shift in trade flows in which U.S. demand for goods from abroad outpaces shipments to other countries. The reported figures cover the overall goods and services balance, including changes across both import and export categories.
U.S. trade deficit rises in May to a 14-month high on stronger capital goods imports
The U.S. trade deficit widens in May to a 14-month high, driven primarily by higher imports linked to capital goods purchases tied to investment, including spending related to artificial intelligence....
- The U.S. goods and services trade deficit reaches $77.6 billion and is reported as a 14-month high.
- Imports increase to a record $395.3 billion.
- Capital goods imports rise to a record level and are cited as a key driver, including for AI-related investment.
- Exports decline, including a reported 3.2% decrease.
- Trade is described as a drag on U.S. economic growth for a second consecutive quarter.
The goods and services gap hit $77.6 billion as capital goods imports reached a record and exports fell 3.2%
2 hours agoImports climbed to a record $395.3 billion, led by capital goods purchases, while exports declined, leaving trade as a drag on US economic growth for the second consecutive quarter
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