U.S. Trade Gap Grows 0.8% in May

July 12, 2006 9:00 AM, EDT

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he U.S. trade deficit rose by 0.8% in May from a month earlier to $63.8 billion, the Commerce Department said Wednesday.

The growth was less than the $64.9 billion economists had forecast, Bloomberg reported.

Imports rose 1.8% to a record $182.5 billion, led by petroleum, raw materials and business equipment.

The U.S. trade gap with China also widened and China’s trade surplus rose to a record $14.5 billion as that country’s exports rose 23% from a year earlier, Bloomberg reported.