US Economy: Jobless Claims Fall, 1Q GDP Revised to -0.5%

US Jobless claims declined to 236,000 as continuing claims increased to 1.97 million, the highest since November 2021. Elsewhere, the US merchandise-trade deficit unexpectedly widened in May while imports were little changed, and first-quarter GDP was revised down to -0.5% compared to the second reading of -0.2%. Michael McKee reports on Bloomberg Television. (Source: Bloomberg)