U.S. Trade Gap Narrows in May

The U.S. trade deficit narrowed by 1.2% in May, as a cheaper U.S. dollar spurred more exports, the Commerce Department said Friday.

The gap fell to $59.8 billion from a revised $60.5 billion April that was smaller than originally reported, Commerce said.

Economists had forecast the gap to widen to $62.5 billion, Bloomberg said.

Imports rose 0.3% to $217.3 billion, following a 4.6% gain in April. Exports gained 0.9%, $157.5 billion.