US trade deficit rises to the highest level since 2018

The U.S. Department of Commerce said that the U.S. trade deficit increased by 11.6% to $ 44.4 billion in March, the biggest rise since December 2018 and analysts had expected the US trade deficit to reach $ 44.0 billion in March.

During March, exports fell by a record 9.6% to $ 187.7 billion, the lowest level since November 2016, and imports fell by 6.2% to $ 232.2 billion, the lowest level since November 2016.

Also data released by the American Institute of Supply Management today showed that the services purchasing managers' index in the United States fell to 41.8 points in April, compared to 52.5 points in March, the lowest level since March 2009.