http://www.bloomberg.com/news/2011-06-05/trade-gap-in-u-s-probably-widened-in-april-as-imported-oil-prices-climbed.htmlThe U.S. trade deficit probably widened in April to a 10-month high, reflecting higher crude oil costs that have since retreated, economists said before a report this week.
The gap expanded to $48.9 billion from the $48.2 billion shortfall in March, according to the median of 61 estimates in a Bloomberg News survey ahead of the Commerce Department’s June 9 report. Other figures may show prices of goods from abroad decreased in May by the most in almost a year, showing the surge in commodity costs is fading.
A drop in deliveries from Japan, where the earthquake and tsunami in March hampered shipments of auto parts and other components, may have prevented imports from climbing even more. While a weaker dollar has made American products more competitive for manufacturers like Dow Chemical Co. (DOW), a cooling in the world economy may limit U.S. exports in coming months.
“We are seeing a slowdown in global growth that should mean a slowdown in export growth,” said Julia Coronado, chief economist for North America at BNP Paribas in New York. “At the same time, in the second quarter we have pretty significant supply-chain issues that are going to weigh very heavily on imports.”
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