Zeev's Turnips Patch-No Politics (ZEEV)

[Bruce A Thompson]

Trade Gap Sets Record Again

WASHINGTON (Reuters) - The U.S. trade deficit set a record in May for the second straight month, as strong American demand for imported automobiles, food and consumer goods lifted the gap to $37.64 billion, the Commerce Department said on Friday.

The trade gap, which measures the difference between imports and exports of goods and services, was up from the revised estimate of $36.14 billion for April. It was also wider than the average estimate of $35.23 billion from analysts surveyed before the report.

The May trade deficit for goods alone was a record $41.53 billion, while the services surplus shrank slightly to $3.90 billion in the face of record imports of $19.49 billion.

May imports of food, animal feeds and beverages, auto and auto parts and consumer goods all hit records, the Commerce Department said.