The U.S. trade deficit increased 23.0% to $74.6-billion, the Commerce Department said on Wednesday
The U.S. trade deficit widened sharply in April as imports of goods rebounded while exports declined, a trend that if sustained, could result in trade being a drag on economic growth in the second quarter.
The trade deficit increased 23.0 per cent to $74.6-billion, the Commerce Department said on Wednesday. Data for March was revised to show the trade gap narrowing to $60.6-billion instead of $64.2-billion as previously reported. Trade made no contribution to the economy’s 1.3 per cent annualized growth rate in the first quarter after adding to gross domestic product for three straight quarters.
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