the us trade deficit narrowed for the second straight month in may as a decrease in goods spending by american households held down import growth while exports of energy products increased the trade gap in goods and services shrank 13 in may from the previous month to 855 billion the commerce department said thursday down from aprils revised 867 billion imports rose 06 to 3414 billion driven by a rise in crude oil imports exports rose 12 to 2559 billion due to increased exports of crude oil and natural gas imports of consumer goods fell 15 billion as a result of americans cooling appetite for goods purchases after splurging on furniture electronics and appliances during the pandemicinduced lockdowns many households are now shifting their spending to services such as restaurants or travel higher consumer prices also are making goods less attractive to consumers at the same time supplychain disruptions caused businesses to stockpile orders which has left them with full inventories and no room to store new products