US trade deficit widens in April
2024.06.06 09:48
(Reuters) – The U.S. trade deficit widened in April as a jump in imports outpaced a slight increase in exports.
The trade deficit increased 8.7% to $74.6 billion, the Commerce Department’s Bureau of Economic Analysis said on Thursday. Data for March was revised to show the trade gap narrowing slightly to $68.6 billion instead of the $69.4 billion as previously reported.
Economists polled by Reuters had forecast the deficit would rise to $76.1 billion in April.
The economy grew at a 1.3% annualized rate last quarter after expanding at a 3.4% pace in the October-December period.
Imports rose 2.4% to $338.2 billion in April. Goods imports rose $8.1 billion to $271.9 billion. There were increases in imports of motor vehicles and parts and capital goods such as computer accessories and telecommunications equipments, as well as industrial supplies and materials, which include .
Services imports edged down $0.1 billion to $66.3 billion.
Exports edged up 0.8% to $263.7 billion. Goods exports increased $2.2 billion to $172.7 billion. There were increases in exports of capital goods and consumer goods, while industrial supplies and materials fell. Exports of services declined $0.2 billion to $172.7 billion.
