WASHINGTON, May 29 (Reuters) – The U.S. trade deficit in goods contracted in April as a surge in exports more than offset rising imports, a trend that if sustained could see trade contributing to economic growth in the second quarter.
The goods trade gap narrowed 3.4% to $82.4 billion last month, the Commerce Department’s Census Bureau said on Friday. Economists polled by Reuters had forecast the goods trade deficit at $86.5 billion.
Goods exports increased $8.5 billion to $219.7 billion. Imports of goods rose $5.6 billion to $302.1 billion.
The trade deficit subtracted 1.25 percentage points from gross domestic product in the first quarter. The economy grew at a 1.6% annualized rate last quarter after expanding at a 0.5% pace in the October-December quarter.
(Reporting by Lucia MutikaniEditing by Tomasz Janowski)
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