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 world’s largest economy weather government cutbacks. Record U.S. exports of autos and parts and consumer goods also indicate global growth is stabilizing.
Our 4th of July Super Sale has been extended! Get double Patriot Points and free shipping on the hottest items!