Keeping you up to date on the latest data releases.
- U.S. Trade
The U.S. trade deficit narrowed 6.7 percent to $43.7 billion in April, decreasing by $3.1 billion from March’s revised $46.8 (previously $48.2 billion). Imports decreased $1 billion to $219.2 billion while exports continued to expand, posting gains of $2.2 billion to total $175.6 billion. April’s modest 0.4 percent decrease in imports reflects a downturn from March’s robust 4.9 percent gains. On a year-over-year basis, however, imports were up by 15.9 percent. The contraction of imports from March to April can be attributed to decreased volume of petroleum imports (down 11 percent) as well as decreased imports of automotive vehicles (down 13.2 percent). Imports from Japan—another major factor to April’s import decrease—fell by a record $3.0 billion from the previous month. Exports edged up 1.3 percent in April and advanced 18.8 percent from a year ago, continuing to surpass their 2008 peak of $165.7 billion. April’s gains stem from more record setting numbers in both exports of goods ($126.4 billion) and exports of services ($49.1 billion). Other major categories contributing to the advance include increases in exports of industrial supplies (2.7 percent) and capital goods (2.9 percent).