Economic Buzz: US trade deficit hits record $162 Billion in March

The US trade balance posted a monthly deficit of $161.99 billion in March, reaching an all-time high, according to data released yesterday. The deficit shot up 9.6%, advance data from the US Census Bureau data showed. This was up from $147.8 billion in February. US exports climbed 1.2% in March on a monthly basis to $180.76 billion, while imports rose 5% to $342.75 billion. In March, wholesale inventories grew 0.5% to $908 billion. The country's retail inventories fell 0.1% to $805.8 billion in March.

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