One of the telling financial statistics rolled in from south of the border Tuesday.
Figures released by the U.S. Census Bureau revealed Americans’ demand for imports abated in April, easing the U.S. trade deficit from the record level it had hit the month before.
The goods and services shortfall declined to $68.9 billion for the month, down from the upwardly revised $75.02 billion in March, the highest level for a data series that stretches back to January 1992.
While exports increased 1.1% to $205 billion, imports declined 1.4% to $273.9 billion, which equated to an 8.2% decline in the trade deficit.
Even with the monthly decrease that still left the trade imbalance 30% higher than the year-ago level, a time when the U.S. economy largely remained in shutdown mode due to harsh restrictions imposed on businesses in an effort to control the COVID-19 pandemic.
