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. “