The U.S. trade-in-goods deficit expanded on a year earlier for a seventh straight month in May, reaching $66 billion. That was inline with expectations and resulted from import growth of 7% beating exports’ 6% rise. Contrary to the U.S. administration’s view that rising deficits are “bad”, the data shows a strong underlying economy. Capital goods imports increased 8% – an encouraging sign of business investment strength. Exports of agricultural products climbed 10%, and could grow further as recently announced Chinese deals take effect. Meanwhile consumer goods exports increased by 7%, t...