The trade deficit in the United States probably narrowed in May as falling crude oil prices and weakening demand helped trim the import bill, economists said before a report this week.

The gap shrank to $48.5 billion from $50.1 billion in April, according to the median forecast of 61 economists in a Bloomberg News survey before a Commerce Department report due on July 11. Cheaper energy also helped push down wholesale prices in June for a third consecutive month, another report may show.

A faltering global economy, which led central banks from Europe to China to cut interest rates and announce more stimulus on July 5, may also mean fewer purchases of US-made goods. At the same time, a lack of US hiring that helped prompt the Federal Reserve to ease monetary policy last month may also temper demand for imports.