Business Standard

Saturday, February 01, 2025 | 12:10 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

US goods trade deficit hits record high; Q1 GDP growth estimates slashed

The goods trade deficit jumped 17.8% to an all-time high of $125.3 billion.

US economic growth accelerates in Q4; corporate profits slow
Premium

Economists cautioned against reading too much into any number as it would be a misleading picture of the US economy.

Reuters Washington
The U.S. trade deficit in goods widened to a record high in March likely as businesses who are worried about shortages front-loaded imports after Russia's invasion of Ukraine, raising the risk that economic growth stalled in the first quarter.

The report from the Commerce Department on Wednesday also showed solid increases in retail and wholesale inventories. That could offset some of the hit to gross domestic product growth from the sky-high trade gap.
 
The data prompted economists to downgrade their already low GDP growth estimates for the first quarter to show the economy barely growing or even contracting. The government is

Disclaimer: No Business Standard Journalist was involved in creation of this content

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in