US goods trade deficit widens sharply in May

The U.S. trade deficit in goods experienced a sharp widening in May, primarily driven by a surge in imports. This development has prompted economists to consider revising downward their projections for the second-quarter Gross Domestic Product (GDP). The specific figures for the goods trade deficit in May were not detailed in the provided summary, but the trend indicates a growing imbalance in trade.

In a contrasting economic scenario, Brazil reported a narrowing of its current account deficit for May. The deficit stood at $3.185 billion, a figure that was notably smaller than the $4.159 billion shortfall anticipated by market analysts. This improvement in Brazil's external balance was further bolstered by foreign direct investment (FDI) inflows that surpassed expectations. For the month of May, Brazil attracted $7.974 billion in FDI.