Trade Deficit Jumps on Higher Imports

The U.S. trade deficit jumped 12.1% to a six-month high in May, led by higher imports, the Commerce Department reported Wednesday.

The gap between imports and exports rose to $45 billion, the highest since November, from $40.1 billion in April, Commerce said.

Economists had forecast the deficit to hold at April’s level, Bloomberg News reported.

Imports rose 1.9%, and their $232.1 billion value was second to the record $234.3 billion in March 2012. Exports slipped 0.3% to $187.1 billion.