21 May 2001, 11:55 The U.S. March trade report posted a huge jump to -$31.2 billion
The U.S. March trade report posted a huge jump to -$31.2 billion
from a barely revised -$26.9 billion in February, as imports rebounded
$3.4 billion, perhaps due to the stocking of summer goods. The $4.3
billion March jump in the trade deficit was the largest gain since the
series began in 1992, but the March trade gap remained under the record
-$33.5 billion posted in September 2000. The March trade gap was far
above most private estimates. The median estimate in a Market News
International poll of economists was -$28.5 billion. Imports were $5.6
billion lower in February and were responsible for driving the trade gap
lower. A rebound was not surprising in March, though the magnitude was a
shock.
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