The U.S. trade deficit widened more than expected in May as rising oil prices helped to push up the import bill and exports remained constrained by the lingering effects of a strong dollar.
The Commerce Department said on Wednesday the trade gap increased 10.1 percent to $41.1 billion. April’s trade deficit was unrevised at $37.4 billion.
Economists polled by Reuters had forecast the trade deficit rising to $40.0 billion in May. When adjusted for inflation, the deficit increased to $61.1 billion from $57.5 billion in April.
