U.S. Trade Gap Widens on Softening Exports |
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June 10,2009
The U.S. trade gap widened to $29.2 billion in April as exports weakened again in a reflection of waning global demand, a U.S. government report on Wednesday showed.
The U.S. trade gap widened to $29.2 billion in April as exports weakened again in a reflection of waning global demand, a U.S. government report on Wednesday showed.
The Commerce Department said total exports fell 2.3 percent to $121.1 billion, the lowest level for foreign sales since mid-2006. Exports have dropped in eight of the past nine months as the world economy struggled through a financial crisis that has sapped consumers' ability and willingness to spend.
The April deficit was in line with Wall Street forecasts.
Imports declined in April for a ninth straight month but by a smaller amount than exports, down 1.4 percent to $150.3 billion. That was the lowest value for imports since September 2004, more evidence that the recession-struck U.S. economy was not generating as much demand as it once did.
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