WASHINGTON — The U.S. trade deficit widened by 2.5% to $40.4 billion in March, the largest deficit since December 2008, the Commerce Department reported yesterday.
Imports increased by $5.6 billion, or 3.1%, and exports grew by $4.6 billion, or 3.2%.
Imports and exports both reached the highest dollar-amount levels since October 2008.
February’s deficit was revised lower to $39.4 billion from the $39.7 billion reported last month.
Economists had expected the trade deficit to widen to $40.1 billion, according to the median estimate from Thomson Reuters.