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News Summary: US trade deficit widened in April

(AP) - DEFICT WIDENS: The U.S. trade deficit rose 8.5 percent in April from March to $40.3 billion, as demand for foreign cars, cell phones and other imported goods outpaced growth in U.S. exports.

EXPORTS, IMPORTS UP: Exports increased 1.2 percent to $187.4 billion. American companies sold more telecommunications equipment, autos and industrial machinery. Imports rose an even larger 2.4 percent to $227.7 billion.

OUTLOOK: A weaker global economy is reducing demand for U.S. exports and that could weigh on growth this year.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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