Keeping you up to date on the latest data releases.
- International Trade
In April, the US trade deficit expanded $3.1 billion after contracting a revised $6.7 billion in March ($4.8 billion, previously). The expansion to a level of −$40.3 billion was slightly below the consensus forecast of −$41.0 billion. Both imports (up 2.4 percent) and exports (up 1.2 percent) increased in April after falling in March. On a year-over-year basis, imports declined 1.4 percent in April after falling 5.1 percent in March. After falling −0.7 percent last month, the first yearly decline since November 2009, exports regained strength in April and posted a 1.7 percent year-over-year increase. Overall, April’s report was stronger than March’s where both imports and exports displayed weakness. With contrasting reports in March and April, the impact of trade on second quarter GDP will likely depend upon May’s report.