The U.S. trade deficit rose only $0.7 billion to $50.0 billion in March, less than expected and beating the consensus forecast. The steady gap comes after two sharp consecutive declines in the trade deficit.
|Prior||Consensus Forecast||Forecast Range||Actual|
|Trade Balance Level||$-49.4B||$-50.2B||$-51.8B — $-48.8B||$50B|
Exports rose $2.1 billion to $212.0 billion in March, while imports rose $2.8 billion to $262.0 billion.
The average goods and services deficit fell by $3.3 billion to $50.1 billion for the three months ending in March. Average exports rose $2.2 billion to $209.7 billion and average imports fell $1.1 billion to $259.9 billion.
Year‐over‐year, the average goods and services deficit fell $1.9 billion, as average exports increased $4.7 billion and average imports increased by just $2.7 billion.
The politically-sensitive U.S. trade deficit with China fell $1.9 billion to $28.3 billion in March. Exports rose $1.4 billion to $10.5 billion and imports fell $0.5 billion to $38.8 billion.