Trade Deficit Better Than Estimates

- The Trade Deficit for May widened to -$63.8 billion versus estimates of -$64.9 billion and -$63.3 billion in April.

BOTTOM LINE: American companies exported a record amount of goods in May, keeping the trade deficit from widening as much as expected and signaling growing demand from overseas may help the US economy sustain growth, Bloomberg reported. The trade deficit with China rose to $17.7 billion from $17 billion in April. I expect the trade deficit to improve only modestly over the intermediate-term as the US economy continues to outperform those of other industrialized nations.