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U.S. economic activity remained generally weak in late April and May, and some trucking companies reported having difficulty passing on high fuel costs to their customers, the Federal Reserve said Wednesday.

Heavy rains led to severe flooding in several Midwest states this week, taking out some major roads and rail bridges and causing millions of dollars in damages, news services reported.

The International Energy Agency lowered its forecast for global oil demand this year, while thousands of European truckers protested high fuel prices, the Associated Press reported Tuesday.

Soaring fuel prices have driven trucking bankruptcies up 143% over the same time last year, and industry analysts said the market may need to consolidate more before it improves for those companies that survive, the Associated Press reported.

The U.S. trade deficit grew 7.8% in April to the highest level in more than a year, on surging energy costs, the Commerce Department said Tuesday.

Senate Republicans killed a measure Tuesday backed by Democrats that would have would increased windfall-profit taxes on oil companies, Bloomberg reported.

The regional government of the Portland, Ore., area is backing a new Interstate 5 bridge over the Columbia River, the Associated Press reported.

Connecticut’s truck inspections fell 20% to about 18,600 in 2007, compared with a year earlier, the Hartford Courant reported.