Trade Gap in U.S. Shrinks More Than Forecast on Record Exports

The trade deficit in the U.S. narrowed more than forecast in May on record exports, signaling a pickup in global growth that will boost American manufacturers.

The gap shrank by 5.6 percent, the biggest drop since November, to $44.4 billion from the prior month’s $47 billion, Commerce Department figures showed today in Washington. The median forecast in a Bloomberg survey of 69 economists called for a contraction to $45 billion. Sales to foreign customers climbed 1 percent on growing demand for autos and parts, petroleum products and aircraft engines.