Despite All The Dire Democrat Predictions…
The trade deficit hits its lowest level since October 2016, a month before the presidential election. It has also fallen for three consecutive months and is down year over year.
According to Hannity.com, the United States’ national trade deficit shrank to the lowest level since the 2016 presidential election in recent months, with new statistics showing the export-import ratio dropped by a whopping 6.6% from April.
CNBC reports that the data released by the Commerce Department revealed the US trade deficit shrank to $43.1 billion in the month of May, the lowest levels seen since October 2016.
“May exports rose by 1.9 percent from the previous month to $215.3 billion, while imports increased by 0.4 percent to $258.4 billion,” writes CNBC. “The trade deficit is at its lowest level since October 2016, a month before the presidential election.”
One the same day another economic indicator showed that a record number of Americans are participating in the US labor force; smashing previous estimates and causing economists to doubt the possible “labor shortage” that had been predicted in the coming months.
Read the full report at CNBC.