USA: The trade balance deficit widens sharply, Market news

USA: The trade balance deficit widens sharply |  Photo credits: US Government Works

USA: The trade balance deficit widens sharply | Photo credits: US Government Works

WASHINGTON, April 27 (Reuters) – The U.S. trade balance deficit widened sharply in March, with imports rising far more than exports, official statistics showed on Wednesday, suggesting foreign trade weighed on growth in the first quarter.

The deficit in trade in goods increased by 17.8% to 125.3 billion dollars (118.7 billion euros), announced the Commerce Department. The rise in imports reached 11.5% while that of exports stood at 7.2%.

Foreign trade has been holding back US gross domestic product (GDP) growth for six quarters already.

The first estimate of GDP for the first three months of this year is expected on Thursday and the Reuters consensus expects growth to slow sharply to 1.1% at an annualized rate after 6.9% in the fourth quarter. (Report Lucia Mutikani, French version Marc Angrand, edited by Jean-Michel BĂ©lot)



Leave a Comment