U.S. posts record trade deficit
Surging volumes of imported goods, especially oil and services, helped propel the U.S. trade deficit to a monthly record of $46 billion in March, according to the latest U.S. Commerce Department figures.
The March deficit for merchandise goods hit a record $51.2 billion in March, a 7.9-percent increase from February. Exports of $67.2 billion partially offset a record $118 million in imported goods. Exports of industrial supplies and materials ($16.9 billion), automotive vehicles, engines and parts ($7.2 billion) and consumer goods ($8.6 billion) were all records.
U.S. companies set a record ($3.4 billion) for exports to China. March imports from OPEC oil producers reached a record $7.4 billion.
