Trade deficit rises, to drag on second-quarter growth

(Reuters) – Trade deficit widened in April as a rise in imports offset a rebound in exports, suggesting that trade remained a drag on economic growth as the second quarter started.

The Commerce Department said on Tuesday the trade gap increased 8.5 percent to $40.3 billion. March’s shortfall on the trade balance was revised to $37.1 billion from the previously reported $38.8 billion.

Economists polled by Reuters had expected the trade deficit to rise to $41.0 billion in April.  Read more

Categories: Economics, United States

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