In good news, the U.S. trade deficit dropped way beyond what was expected as it decreased by 6.2 percent from March's 62.39 billion, according to the Commerce Department. It finished at $58.50 billion for April.
Most of it was due to an increase in exports and a decrease in imports of consumer goods and cars, said the Wall Street Journal.
For U.S exports, an increase of $724 million in food, feed and beverages led the way, with industrial supplies sales adding another $368 million. The other category that helped the export figure was consumer goods, which came to a total of $141 million.
Much of this is a surprise to most as a Dow Jones Newswires survey of 26 economists on average concluded that the deficit would probably be around $63 million in April.
Overall, exports increased by 0.2 percent, to finish at $129.49 billion for April, while imports decreased by 1.9 percent, to drop to $187.98 billion.
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In good news, the U.S. trade deficit dropped way beyond what was expected as it decreased by 6.2 percent from March's 62.39 billion, according to the Commerce Department. It finished at $58.50 billion for April. [Read More]
Tracked on: June 8, 2007 5:18 PM | Permalink to Trackback