Economy

U.S. trade deficit narrows slightly from record as imports slow

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The CMA CGM Marco Polo, an Explorer class container ship crosses under the Verrazzano-Narrows Bridge, to enter New York Harbor as seen from Brooklyn, New York, U.S., May 20, 2021.

Brendan McDermid | Reuters

Americans’ demand for imports abated in April, easing the U.S. trade deficit from the record level it had hit the month before, according to Census Bureau data released Tuesday.

The goods and services shortfall declined to $68.9 billion for the month, down from the upwardly revised $75.02 billion in March, the highest level for data stretching back to January 1992.

While exports increased 1.1% to $205 billion, imports declined 1.4% to $273.9 billion, which equated to an 8.2% decline in…



Source cnbc.com

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