Economic Buzz: US trade deficit down to $55.9B in April

The United States trade deficit in goods and services decreased by 1.2% on a monthly basis to $55.9 billion in April, according to a report by the Bureau of Economic Analysis on Tuesday. The goods deficit fell by $2.4 billion to $83.7 billion, while the services surplus declined by $1.7 billion to $27.8 billion.

Exports grew by 2.6% to $327.1 billion, including an $8.7 billion rise in the export of goods to $221.3 billion and a $0.4 billion decrease in the export of services to $105.8 billion. Imports added 2% month-on-month to $383 billion, with goods imports up by $6.4 billion to $304.9 billion and services imports increasing by $1.3 billion to $78 billion.

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