US trade deficit hits 6-month high, imports surge.
TL;DR
The US trade deficit widened by 23% to $74.6bn in April, the biggest increase in eight years, as imports of goods rebounded while exports of energy products declined. Economists expect that trade could chop off as much as 2.5 percentage points from gross domestic product this quarter, unless imports reversed course, a tall order given the persistent strength in domestic demand. A strong dollar and slowing global demand could curb exports.
- US trade deficit widens to 6-month high, expected to dent economic growth Reuters
- U.S. trade deficit jumps 23% to six-month high as imports rebound MarketWatch
- China's Share of U.S. Goods Imports Falls to Lowest Since 2006 The Wall Street Journal
- US Trade Deficit Widens to Largest in Six Months on More Imports Bloomberg
- U.S. stocks open slightly higher after trade deficit data MarketWatch
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