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Wed June 10, 2009
April trade deficit edges higher
WASHINGTON – The U.S. trade deficit edged up in April as crude oil prices hit the highest level since December, but the imbalance so far in 2009 is well below last year's total as the recession dampens demand for imports.
The Commerce Department says the deficit rose for a second straight month in April, climbing 2.2 percent to $29.2 billion. That was slightly higher than economists' expectations.
The politically sensitive deficit with China increased 7.3 percent to $16.8 billion, although that imbalance through the first four months of this year is 11.1 percent below last year's record pace.