The U.S. trade deficit increased by the most in more than a year in March as a record drop in exports offset a shrinking import bill, suggesting ...
The U.S. trade deficit increased by the most in more than a year in March as a record drop in exports offset a shrinking import bill, suggesting the novel coronavirus outbreak was upending the global flow of goods and services.
The Commerce Department said the trade deficit jumped 11.6per cent, the largest rise since December 2018, to US$44.4 billion. Economists polled by Reuters had forecast the trade gap increasing to US$44.0 billion in March. A survey on Tuesday from the Institute for Supply Management showed its non-manufacturing activity index fell to a reading of 41.8 last month, the first contraction since December 2009. It was also the lowest level since March 2009 and followed a reading of 52.5 in March.
When adjusted for inflation, the overall goods trade deficit increased US$6.5 billion to US$75.3 billion in March. Despite's March's increase, the so-called real goods trade deficit narrowed sharply in the first quarter.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US Treasury to borrow record US$2.999 trillion in Q2[WASHINGTON] The United States Treasury said Monday it will to borrow a record $2.999 trillion in the April-June period largely to finance spending on relief programmes amid the coronavirus pandemic. Read more at The Business Times.
Read more »
US household debt reached US$14.3 trillion, credit standards tightened in first quarterAmerican households added US$155 billion of debt in the first quarter and overall debt levels rose to a new record at US$14.30 trillion, the ...
Read more »
US warns of 'consequences' if China abandons trade dealUS Treasury Secretary Steven Mnuchin said Monday he expects China to uphold a trade deal reached with Washington this year, and warned of ...
Read more »
US says 'evidence' coronavirus came from China lab as Europe eases lockdownWASHINGTON: US Secretary of State Mike Pompeo on Sunday (May 3) said 'enormous evidence' showed the new coronavirus originated in a lab in China, ...
Read more »
Commentary: COVID-19 a common enemy China and the US must fight together, not aloneThe China and US need to venture on the path that leads toward restored mutual trust, by focusing on common interests and fighting common enemies, ...
Read more »
US airline shares tumble as Buffett stake riddance fuels investor worriesShares of the top four U.S. airlines dropped on Monday after billionaire investor Warren Buffett's Berkshire Hathaway said it offloaded its ...
Read more »