The U.S. trade deficit in goods shrank by 16% in April and eased off a record high, but robust demand for imports such as oil and consumer goods is likely to...
The numbers: The U.S. trade deficit in goods shrank by 16% in April and eased off a record high, but robust demand for imports such as oil and consumer electronics is likely to keep it at historically high levels in the months ahead.
Wall... The numbers: The U.S. trade deficit in goods shrank by 16% in April and eased off a record high, but robust demand for imports such as oil and consumer electronics is likely to keep it at historically high levels in the months ahead. An advanced estimate of wholesale inventories, meanwhile, showed a 2.1% increase in April. Retail inventories rose 0.7%, according to an early estimate.
The trade gap won’t weigh down GDP in the second quarter quite as much. Economists predict the U.S. is likely to expand at an annual rate of 2% or so, helped by the increase in inventories. Higher inventories add to GDP.
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