Jul 8, 2026
May’s trade surplus of $4.2B came in better than expected, growing over last month…
… on the back of a 0.9% increase in exports, which came despite flat volumes and a sequential drawdown in energy products…
… as the category showed some moderation after carrying the prior two prints.
With a 50% M/M gain in aluminum exports on European demand, metals and minerals were the primary upward driver…
… and were the main drag on imports, which fell 0.2% M/M despite gains in the other categories.
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