Trade deficit widened in April as a rise in imports offset a rebound in exports, suggesting that trade remained a drag on economic growth as the second quarter started.
The Commerce Department said on Tuesday the trade gap increased 8.5 percent to $40.3 billion. March’s shortfall on the trade balance was revised to $37.1 billion from the previously reported $38.8 billion.
Economists polled by Reuters had expected the trade deficit to rise to $41.0 billion in April.
When adjusted for inflation, the trade gap increased to $47.6 billion from $44.6 billion in March.
Economists said the widening in the so-called real trade deficit indicated that trade continued to weigh on growth early in the second quarter.
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