June 4, 2013
The trade deficit in the U.S. widened in April from a more than three year low, reflecting a rebound in imports of consumer goods and business equipment that eases concern about the degree of slowing in economic growth.
The gap grew by 8.5 percent to $40.3 billion from a $37.1 billion in March shortfall that was smaller than previously estimated, Commerce Department figures showed today in Washington. The median forecast in a Bloomberg survey of 68 economists called for the deficit to grow to $41.1 billion. Imports climbed by 2.4 percent, twice the gain in exports.
American demand for foreign-made mobile phones, automobiles and computers accelerated, pointing to gains in household and business spending that will help the worldâ€™s largest economy weather government cutbacks. Record U.S. exports of autos and parts and consumer goods also indicate global growth is stabilizing.