US foreign trade surplus widens more than expected in March

America’s trade deficit with the rest of the world widened more than expected last month, even as exports and imports returned to pre-pandemic levels.

According to the United States Commerce Department, the country’s foreign trade deficit grew at a monthly rate of 4.0% to $ 90.6 billion.

Economists had marked a deficit of 87.1 billion dollars.

Exports jumped at a monthly pace of 8.7% to $ 142.0 billion, while imports rose 6.8% to $ 232.6 billion.

Both exports were now above their pre-Covid levels, Barclays Research highlighted.

In the same report, Commerce also announced that wholesale inventories rose 1.4% on the month to $ 613.2 billion (consensus: 0.2%).

Commenting on the latest trade figures, economists from Barclays Research said: “Looking ahead, as vaccinations continue and restrictions on activity are relaxed, we expect household spending to gradually shift back to services, which will put less pressure on the goods balance. .

“This view notwithstanding, with the adoption of two federal aid programs that include economic impact payments to households and only 43% of the population with at least one dose of vaccine received, the demand for goods to in the short term is likely to remain strong. “

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