The trade deficit widened in April to the highest level in more than a year as a growing US economy and higher oil prices caused imports to climb faster than exports, economists said before a report today.
The gap increased to $41 billion, the highest level since December 2008, from $40.4 billion in March, according to the median forecast of 75 economists.
The fallout from the European debt crisis may limit trade flows in coming months as the subsequent plunge in oil prices restrains imports. The increase in the value of the dollar since the turmoil began also makes American goods less competitive abroad, raising the risk that the gains in exports, which have helped lift companies like Dow Chemical Co, will cool.
The Commerce Department’s trade data is due at 8:30 am in Washington. Economists’ estimates ranged from deficits of $37.5 billion to $44 billion.
