Trade deficit dropped from April to May
The U.S. Commerce Department reported this morning that the trade deficit fell slightly, to $48.7 billion, from April to June. Imports decreased by 0.7 percent and exports increased by 0.2 percent.
A drop in oil prices helped bring down the trade deficit as well, according to Reuters.
The Commerce Department also said on Wednesday that wholesale inventories rose in May and sales decreased from April to May. Compared with May 2011, though, sales rose 5.7 percent.
The reports released today reinforce a view of some economists that growth slowed in the United States during the second quarter.