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The Economic Times

Economy / The Economic Times

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US trade deficit widens sharply in May as capital goods imports hit record high

The United States trade deficit significantly widened in May. Imports of capital goods reached a record high, driven by artificial intelligence investments. Exports experienced a decline, though petroleum shipments were strong. Trade has now subtracted from gross domestic product for two consecutive quarters. Current forecasts predict a modest economic growth rate for the second quarter.

7 Jul 2026 6:38 pm