U.S. Goods and Services Deficit Widens to $77.6 Billion in May

The U.S. goods and services deficit increased significantly in May, rising by $23.0 billion to $77.6 billion from a revised $54.6 billion in April. This widening deficit was driven by a $23.6 billion increase in the goods deficit, reaching $106.5 billion, while the services surplus saw a modest increase of $0.6 billion to $28.9 billion. Exports decreased by $10.5 billion to $317.7 billion, and imports rose by $12.5 billion to $395.3 billion.