Ahead of the Bell: US trade gap
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The U.S. trade deficit likely widened slightly in April because of increased imports and scant growth in exports. The weakness in exports could hold back U.S. economic growth.
Economists are forecasting that the deficit rose to $41 billion in April, up 5.6 percent from March, according to a survey by FactSet. The Commerce Department will release the report at 8:30 a.m. EDT Tuesday.
In March, the trade gap narrowed to $38.8 billion because imports fell more than exports did. The daily flow of crude oil imports, for example, reached a 17-year low.
A narrower trade gap can boost economic growth if it means U.S. companies are earning more from overseas sales while U.S. consumers and businesses are spending less on foreign goods.
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