These deficits will be a thing of the past.
* * * * * J B K * * * * *
San Francisco
The trade deficit in the U.S. widened in March to the highest level in more than a year as imports climbed faster than exports, adding to evidence of the global recovery from the worst recession in the post-World War II era.
The gap grew 2.5 percent to $40.4 billion, in line with the median forecast in a Bloomberg News survey, Commerce Department figures showed today in Washington. The value of goods sold overseas and those purchased abroad, led by a surge in oil demand, rose to the highest levels since October 2008.
A rebounding American consumer, combined with business spending on equipment and inventories, means imports may keep growing. Exports will probably also improve as expanding economies in Asia and Latin America, which are giving companies such as Cummins Inc. and Dow Chemical Co. a lift, counter any drag from Europe as the debt crisis hurts the euro.
http://www.bloomberg.com/apps/news?pid=20601068&sid=a0JjDCuBrx3I
