U.S. goods trade deficit widens in March
WASHINGTON, April 28 (Reuters) – The United States’ trade deficit in goods surged in March, suggesting trade was likely a drag on economic growth in the first quarter, but that was probably offset by strong domestic demand amid massive fiscal stimulus and easing pandemic stress.
The goods trade deficit jumped 4.0% to $90.6 billion last month, the Commerce Department said on Wednesday.
The report was published ahead of Thursday’s advance first-quarter gross domestic product data, which is expected to show the economy grew at a robust 6.1% annualized rate in the first three months of the year after expanding at a 4.3% pace in the fourth quarter, according to a Reuters survey of economists. (Reporting By Lucia Mutikani; Editing by Andrew Heavens)