Economics
U.S. Goods-Trade Gap Soars to Record, Surpassing All Estimates
- Shortfall widened almost 18% to $125.3 billion in March
- Imports rose to record, driven by industrial-supply shipments
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The U.S. merchandise-trade deficit widened unexpectedly to a new record in March as the value of imports dwarfed that of outbound shipments, reflecting a surge in inflation.
The shortfall grew almost 18% to $125.3 billion last month, Commerce Department data showed Wednesday. The figures, which aren’t adjusted for inflation, far exceeded all estimates in a Bloomberg survey of economists.