Wednesday, May 11, 2011

U.S. trade deficit hits 9-month high in March

Another stellar milestone achieved by Obamanomics.
The U.S. trade deficit widened sharply
in March to the highest level in nine months despite a new record high for exports of goods and services, government data showed Wednesday.

The trade deficit — that is, the difference between exports and imports — widened to $48.2 billion for the month from a downwardly revised $45.4 billion in February, originally reported as $45.8 billion.

Imports of goods and services rose by 4.9% to a seasonally adjusted $220.8 billion during March, while exports rose 4.6% to $172.7 billion, the Commerce Department estimated. This was the biggest one-month jump in exports since March 1994.

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