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U.S. trade sinks to lowest in more than a decade in May
U.S. exports of goods and services sank in May to the lowest in more than a decade as the coronavirus pandemic halted demand and shipments. The overall gap of goods and services widened to US$54.6 billion in May from a revised US$49.8 billion in April, according to Commerce Department data released Thursday. The median estimate of economists surveyed by Bloomberg had called for a widening to US$53.2 billion. Exports declined from the prior month by 4.4 per cent to US$144.5 billion, the weakest since November 2009, the department said. Imports fell 0.9 per cent to US$199.1 billion, the lowest since July 2010. ... (full story)