The U.S. trade deficit narrowed by slightly more than expected in the month of May, according to a report released by the Commerce Department on Thursday.
The Commerce Department said the trade deficit decreased to $69.0 billion in May from a revised $74.4 billion in April.
Economists had expected the trade deficit to shrink to $69.8 billion compared to the $74.6 billion originally reported for the previous month.
The narrower trade deficit came as the value of imports tumbled by 2.3 percent, while the value of exports fell by 0.8 percent.
