The U.S. trade deficit rose in March for the first time since July as the global recession cut sharply into sales of American exports. The politically sensitive deficit with China increased. The Commerce Department says the deficit widened to $27.6 billion in March, slightly lower than the $29 billion gap that economists had forecast. The March deficit was 5.5% higher than February’s revised $26.1 billion trade gap, which had been the smallest since November 1999. Through the first three months of this year, the deficit is running at an annual rate of $359.7 billion, far below last year’s $681.1 billion. Economists expect the deficit will remain at low levels this year as a recession in the United States crimps demand for foreign goods.
Trade deficit widens in March to $27.6 billion
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