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US Trade Deficit Narrows as Exports Hit Record High

The U.S. trade deficit narrowed a bit more than expected in May as exports jumped to a record high, suggesting trade could be less of a drag on second quarter growth than earlier feared. The Commerce Department said on Thursday the trade gap fell 5.6 percent to $44.4 billion. April's trade deficit was revised slightly down to $47.0 billion. Economists polled by Reuters had expected the deficit to narrow to $45 billion in May from a previously reported $47.2 billion...

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