U.S. ECONOMICS: Trade Deficit Hits Widest Gap Since April 2012
The U.S. trade deficit widened 6.9% to $47.2 billion in April versus -$44.2 billion in March (revised down from -$40.4 billion). That's the biggest gap since April 2012.
Exports slipped 0.2% after surging 2.9% in March. Imports were up 1.2% after a 3.1% gain in the prior month. The petroleum imbalance improved slightly to -$10.6 billion from -$11.4 billion. Excluding petroleum, the deficit increased to $29.2 compared to -$25.2 billion (revised from -$23.8 billion). The "real" goods and services balance surged to -$53.8 billion compared to March's -$50.9 billion (revised from -$49.4 billion), with "real" exports up 0.4% and "real" imports up 2.0%. The deficit with China surged nearly $7 billion to -$27.3 billion, and rose $4 billion with Europe to -$16.1 billion.
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