The March Trade Deficit widened to $48.2b from $45.4B in Feb and is the 2nd widest since late ’08 but in March the increase was solely due to higher petroleum imports which alone rose more than $8b m/o/m. Ex petro, the trade deficit would have fallen by $3b as overall exports rose 4.6% to a record high which squares with the positive momentum that manufacturers have experienced year to date.
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