The U.S. trade deficit narrowed in May from April, helped by cheaper oil that lowered imports and an increase in American exports to Europe and China.

But economists cautioned that decline wasn't enough to alter weak growth forecasts for the April-June quarter.

The Commerce Department said Wednesday that the trade deficit fell 3.8 percent to $48.7 billion in May, down from $50.6 billion in April.

Exports rose 0.2 percent to $183.1 billion. The increase reflected stronger sales of telecommunications equipment and heavy machinery.

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Libyan Colonel Gaddafi’s 42 year brutal reign is over, but the future looks murky ahead for a country primarily known for exporting oil and terrorism.

One thing is for certain – international oil companies will be packing out flights to Tripoli to cut deals for a piece of the action.

KB Home (NYSE:KB) announced the opening of ten new communities of its signature Built to Order™ energy-efficient homes, all located in and around the Bay Area. The communities are located in seven of the Bay Area's most desired submarkets including the cities of Dublin, Fremont, Martinez, Morgan Hill, Petaluma and Walnut Creek.