United States trade gap narrows in May on record exports

Shipping containers are seen at the Port Newark Container Terminal in Newark New Jersey

All in all, two-way trade between Canada and the US rose to $98.5 billion in May, also a record.

The goods deficit with Mexico was $6.8 billion, while the goods deficit with China, which the White House has targeted with accusations of unfair trade, fell 6.2 percent to $30.1 billion.

The report said the trade deficit narrowed to $46.5 billion in May from $47.6 billion in April.

With exports rising and imports falling, the Commerce Department released a report on Thursday showing that the U.S. trade deficit narrowed in the month of May. That suggests trade will be a drag on gross domestic product in the second quarter after contributing 0.23 percentage points to the economy's 1.4% annualised growth pace in the first three months of the year. Exports to China increased 3.6%.

Tom Holland & Robert Downey, Jr. Hit Up 'Spider-Man: Homecoming' NYC Photocall
In the video, a crew rigs the ceiling so that Spider-Man (not Tom Holland ) can drop down and grab his coffee when his name is called.

Exports rose 0.4 percent to $192 billion in May, the highest since April 2015.

The latest Bank of Canada business outlook survey recorded an increase in confidence surrounding overseas orders and exports which should help underpin confidence in the outlook. The gap with Mexico rose by 5.6 percent to $6.8 billion. But imports are up more - 7.3 percent to $1.19 trillion. Imports fell 0.1 percent to $238.5 billion. Imports of motor vehicles and parts rose strongly and aircraft imports jumped on the month which pushed overall imports higher.

In the first five months of 2017, the value of USA imports rose 7.3% and US exports increased 6.0% compared with the same period a year earlier.

Related News:

  • Mother detained after man, four children found dead inside Georgia home

    Mother detained after man, four children found dead inside Georgia home

    According to Fox5 Atlanta, a fifth child was found suffering from serious injuries and was taken to a local hospital. WSB-TV reported that officers found the victims inside a home east of Atlanta in a town called Loganville.
    Sachin Tendulkar's Son Arjun Tendulkar Injures Jonny Bairstow With Toe-Crusher

    Sachin Tendulkar's Son Arjun Tendulkar Injures Jonny Bairstow With Toe-Crusher

    Arjun, who is over six-foot in height, is an aspiring left-arm pacer and has played for the under-14 and under-16 teams of Mumbai. Sad for Bairstow, though, He couldn't get some much-needed practice and had to leave the nets after facing just one ball.
    Nintendo is planning to revive the classic games in retail format?

    Nintendo is planning to revive the classic games in retail format?

    But it's worth pointing out that the mini consoles are not "virtual" consoles - they're physical consoles, albeit miniaturized. When SNES Classic pre-orders to finally go live in Canada expect them to be available in limited supply.
  • Munna Michael's new song 'Swag' released!

    Munna Michael's new song 'Swag' released!

    At the song launch event in Mumbai , Tiger said that he would rehearse the step 100 times in order to get one step right. At the event, Nawazuddin said that it was very hard for director Sabbir Khan to convince him to dance in this film.

    Moto E4 Plus to launch on July 12 in India

    To keep compatibility with the existing line of mods, the Moto Z2 Force will keep its design mostly the same as last year's. The speaker grille is seen at the very bottom edge of the phone along with a microUSB charging port sitting in the middle.
    5.8 magnitude natural disaster  shakes western Montana, Washington

    5.8 magnitude natural disaster shakes western Montana, Washington

    It damaged churches, collapsed walls right out of homes, and hit commercial and government buildings as well. The quake appears to be the largest to hit Montana since a 5.6 struck outside of Dillon a dozen years ago.
  • PM Modi's visit abandons Palestinian cause: CPI-M

    PM Modi's visit abandons Palestinian cause: CPI-M

    Some on social media took Netanyahu to task for not sufficiently rolling his pant legs, with the images showing them getting wet.
    Barcelona renews contract with Messi until 2021

    Barcelona renews contract with Messi until 2021

    Now 30, Messi could have been tempted by other horizons - having been courted by clubs like PSG and Manchester City - particularly as he was found guilty past year of tax fraud in Spain.
    Katy Perry Under Fire for Telling Her Teacup Poodle to Chase Koalas

    Katy Perry Under Fire for Telling Her Teacup Poodle to Chase Koalas

    Animal lovers have branded the ad "disgusting" with vets challenging Perry to to come and see the koalas impacted by dog attacks. Katy Perry has received some extremely harsh criticism over her inappropriate remarks which hinted at animal cruelty.
  • Pakistani rupee strengthens after Dar's statement

    Pakistani rupee strengthens after Dar's statement

    Responding to a question, Ishaq Dar said foreign exchange reserves now stand at twenty one billion dollars. The rupee gained against greenback by almost Rs3 and was trading at Rs105.50 to a dollar.

    Romelu Lukaku: What would he bring to Manchester United?

    It seems at the same time as United were pursuing Morata, we were negotiating for Lukaku in the background. They have already lost Zlatan Ibrahimovic , who was released at the start of the season.
    Weather warning: 'intense downpours likely'

    Weather warning: 'intense downpours likely'

    Rural insurer NFU Mutual is warning people across the United Kingdom to prepare for intense rain and thunderstorms forecast. There is also a warning of sudden flooding, affecting transport routes, homes and businesses.

Most liked

LeEco founder's assets, shares frozen over missed payment
It's unclear where Faraday Future stands with the FF91, a prototype of which was unveiled with much fanfare in January in Las Vegas.

Stocks open mixed ahead of FOMC minutes
Rates were cut once again to 0.25% in August 2016, in an effort to shield against the impacts of Brexit. The strengthening job market left majority comfortable with raising a key short-term rate last month.

Naked man slaps officer after getting off train in Texas
Witnesses tell NBC affiliate KPRC-TV the officer and his partner showed restraint, choosing to use the Taser instead of a gun. A Houston police assistant chief commended the officers for bringing the volatile situation to a safe conclusion.

Major Japanese firms shutdown by torrential rain
Daihatsu halted operations at its minicar-manufacturing plant in Nakatsu, Oita Prefecture, with resumption eyed on Friday. Some 400,000 people were forced to evacuate their homes as the flood waters surged through streets and tore down houses.

5-Magnitude natural disaster hits central Philippines
The Philippines lies on the so-called Ring of Fire, a vast Pacific Ocean region where many quakes and volcanic eruptions occur. Congresswoman Lucy Torres-Gomez from the province said one person had been confirmed killed and Kananga had been "badly hit".

Ford Mustang safety rating improves to three stars
The new Vauxhall Insignia , Hyundai i30 , Seat Ibiza , Alfa Romeo Stelvio and Volkswagen Arteon all hit maximum marks. The new SEAT Ibiza - recently named best supermini at our 2017 New Car Awards - gets a full five-star rating.

Smelling food may make you fat
Researchers say there's a key connection between the body's smell system and parts of the brain that regulate metabolism. They did so by studying both lean and fat mice, whose olfactory sensory nerves had been temporarily destroyed.

Polish leader to talk security, business, energy with Trump
In another excerpt, the president appears to express support for Poland's firm stance against accepting Syrian refugees. Poland also wants to buy liquefied natural gas from USA companies to counterbalance Russian gas supplies in the region.

Fidaa Second Song - Edo Jarugutondi Song With Lyrics Today
Dil Raju has confirmed it on his Facebook page and wrote, "2nd song from #Fidaa "Edo Jarugutondi" will be released on 5th July". Edo Jarugutondi is touted by melodious song, written by Seetharama Sastry and composed by Shakthikanth Karthick.

Alleged kidnapper talked about 'perfect victim' at vigil for missing Chinese scholar
Sunday will mark one month since her disappearance on June 9, when she got into a vehicle allegedly driven by the defendant. There's audio of him describing how Zhang fought and resisted after he brought her back to his apartment in Champaign.

The Sons Of Anarchy Spinoff's Pilot Is Being Reshot, Key Roles Recast
What we do know, via the trade, is that Norberto Barba has been brought on as an executive producer and director for the pilot. This is the same process the network undertook for both the Sons Of Anarchy pilot and its upcoming drama series Snowfall .

Wimbleon day three: Andy Murray beats Dustin Brown in straight sets
Today, however, her chances of winning a third Wimbledon title came to an end courtesy American Madison Brengle. And then sixth seed Konta completed the female double act with a 7-6 4-6 10-8 win over Croatia's Donna Vekic .

GST impact: MRP rules revised
A downward revision in prices of critical care products like nephrology, cancer and anti-retrovirals is expected post-GST. However, in such cases, a sticker mentioning the rates before and after the GST must be stuck to the product.

India soar to 96th in FIFA Rankings, second highest ever
The Indian football team has climbed 4 spots in the latest FIFA rankings to reach 96th spot in a historic feat. Reflecting on the achievement, Constantine said, "I had mentioned that my target was to bring India below 100".

Honor 8 Pro launching in India today
According to reports , the phone should be available to buy on Amazon from Monday (July 10) around 6 PM in the evening. Honor 8 Pro is the successor to the company's previous Honor 8 smartphone, which was launched in October a year ago .