By MARTIN CRUTSINGER, AP Economics Writer
WASHINGTON (AP) — The necessity in a broadest magnitude of U.S. trade increasing in a January-March entertain to a top turn given a open of 2012 as American exports declined.
The Commerce Department pronounced Thursday that a necessity in a stream comment increasing to $113.3 billion in a initial quarter, adult 9.9 percent from a fourth entertain necessity of $103.1 billion. It was a largest imbalance given a $118 billion necessity in a second entertain of 2012.
The stream comment marks not usually trade in products and services though also investment flows. For a initial quarter, a trade necessity increasing as exports of products fell to $382.7 billion from $409.1 billion.
Part of that decrease reflected descending oil prices. But American exporters have also been harm by a stronger dollar, that creates their products some-more costly overseas.
The Federal Reserve took note of a debility in exports in a process matter Wednesday, observant it was one of a factors holding behind a altogether economy this year.
A bigger trade necessity subtracted scarcely 2 commission points from expansion in a initial quarter, promulgation a altogether economy into retreat with a sum domestic product descending during an annual rate of 2 percent in a January-March period.
The economy is approaching to miscarry in a April-June entertain with many economists forecasting expansion of around 2 percent. The expectancy is that clever practice gains will accelerate consumer spending and expostulate faster altogether growth.
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