US trade gap climbs to highest in 16 months
By Martin Crutsinger |
June 11, 2010, Friday
|
Print Edition
Print Edition
THE United States trade deficit rose to the highest level in 16 months in April as exports fell for the second time in three months, a potentially worrisome sign that Europe's debt troubles are beginning to crimp American manufacturers.
US Commerce Department yesterday said the trade deficit widened to US$40.3 billion in April, up 0.6 percent from March. US exports shed 0.6 percent while imports declined 0.4 percent.
Manufacturing has been a standout performer as the US recovers from the worst recession in decades. But the concern is that Europe's debt crisis will slow growth in that part of the world and dampen demand in a key US export market.
For April, exports slipped to US$148.8 billion with demand for US farm products falling by US$647 million and weakness spread across a number of manufactured goods from electric generators to industrial machinery and aircraft engines.
Imports fell to US$189.1 billion with demand for oil basically unchanged from March while total consumer goods imports dipped by US$741 million with the biggest decline coming in pharmaceutical products.
Many economists are worried that Europe could fall into a double-dip recession. That will dampen demand for US exports in a region that accounts for about 15 percent of US exports.
US Commerce Department yesterday said the trade deficit widened to US$40.3 billion in April, up 0.6 percent from March. US exports shed 0.6 percent while imports declined 0.4 percent.
Manufacturing has been a standout performer as the US recovers from the worst recession in decades. But the concern is that Europe's debt crisis will slow growth in that part of the world and dampen demand in a key US export market.
For April, exports slipped to US$148.8 billion with demand for US farm products falling by US$647 million and weakness spread across a number of manufactured goods from electric generators to industrial machinery and aircraft engines.
Imports fell to US$189.1 billion with demand for oil basically unchanged from March while total consumer goods imports dipped by US$741 million with the biggest decline coming in pharmaceutical products.
Many economists are worried that Europe could fall into a double-dip recession. That will dampen demand for US exports in a region that accounts for about 15 percent of US exports.
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