US Goods Trade Deficit Hits $162B in March

The United States witnessed a notable rise in its goods trade deficit, reaching $162 billion in March, as reported by the Census Bureau on Tuesday. This marks a significant increase from February's deficit of $147.8 billion, showcasing a monthly surge of $14.1 billion.

Exports and Imports Show Upward Trend

Exports of goods saw a modest increase of $2.2 billion from the previous month, totaling $180.8 billion in March. Conversely, imports experienced a more substantial rise, climbing by $16.3 billion to $342.7 billion in the same period.

Wholesale Inventories on the Rise

Adjusting for seasonal variations and trading-day differences, wholesale inventories grew by 0.5% in March compared to February. Year-over-year, this figure represents a 2.3% increase, indicating a steady growth in inventory levels.