America's goods deficit narrowed to $82.4bn in April, according to preliminary data from the Census Bureau, down from $85.3bn in March and better than the $86.5bn expected by economists.
Source: Sharecast
Exports surged 4% to a record $219.7bn, driven by strong sales of capital goods, industrial supplies and consumer goods. However, vehicle and food exports fell by 2.8% and 0.3%, respectively.
On the other hand, imports rose 1.9% to $302.1bn, with increases in capital goods and foods being partially offset by declines in industrial supplies, vehicles and consumer goods.
Reporting by Iain Gilbert at Sharecast.com
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