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US trade deficit decreases by $4.5 bn in April

US trade deficit decreases by $4.5 bn in April

10 June 2011 09:16 (UTC +04:00)

Baku - APA-Economics. Fewer oil imports and strong demand for American goods and services drove the U.S. trade deficit down nearly 7 percent in April, providing a break from a recent string of economic news that had called into question the pace of the nationâ€™s fragile economic recovery.

The $43.7 billion shortfall is down from $46.8 billion in March, according to figures released Thursday by the Department of Commerce. Imports stood at $219.2 billion while exports totalled $175.6 billion, according to the data. Many economists had forecast the deficit to widen, with one consensus forecast pinning the April deficit at $48.8 billion.

The economic news wasnâ€™t all good, as initial jobless claims edged up to 427,000 from 426,000 last week, according to data released by the Department of Labor.

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