US goods trade deficit narrows as exports surge
The U.S. goods trade deficit narrowed in April as growth in exports more than offset rising imports; This trend, if continued, could result in trade contributing to economic growth in the second quarter.
The goods trade deficit narrowed 3.4 percent last month to $US82.4 billion ($115.2 billion), the Commerce Department’s Census Bureau said Friday.
Economists polled by Reuters had predicted the goods trade deficit would be $86.5 billion.
Goods exports increased from 8.5 billion dollars to 219.7 billion dollars.
Imports of goods increased by 5.6 billion dollars to 302.1 billion dollars.
The trade deficit fell 1.25 percentage points from gross domestic product in the first quarter.
The US economy grew by 1.6 percent on an annual basis last quarter, after growing by 0.5 percent in the October-December quarter.
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