US trade deficit shrinks rapidly in April

(Sharecast News) - America's shortfall on trade with the rest of the world fell sharply last month as imports declined. According to a preliminary estimate from the US Department of Commerce, in seasonally adjusted terms, America's deficit on its international trade in goods and services shrank by 15.9% to reach $105.9bn.

That was considerably less than the -$115.0bn deficit that economists had penciled-in.

Exports rose at a month-on-month pace of 3.1% to reach $173.9bn, but imports dropped by 5.0% to hit $279.9bn.