Trade deficit widens more than expected in May

The US trade deficit widened 10.1% to -$41.1 billion in May, according to the Commerce Department.

Exports fell compared to the prior month while imports increased, widening the gap.

Economists had forecast that the trade gap - the excess of imports over exports - increased to -$40 billion from -$37.4 billion, according to Bloomberg.

America's trade deficit with China increased by $1.7 billion to $28.3 billion in May. The balance with the UK shifted from a surplus to a deficit of $0.3 billion, while the deficit with Japan fell to $5 billion.

The Commerce Department said it would introduce a new "advance economic indicators report" on July 28. It combine advance estimates of international trade with new estimates for retail and wholesale inventories.

More to come ...

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