Lates News

Goldman Sachs' latest research report indicates that the expansion of the US trade deficit in goods in March exceeded expectations. Both imports and exports of goods increased in March. The main reason for the widening trade deficit is the increase in imports of consumer goods, which may reflect a "front-loading" of imports before the tariff hikes. Details from the leading economic indicators report show that import growth is significantly strong compared to our previous GDP tracking assumptions, while export growth is moderate and inventory accumulation is increasing at a faster pace. Overall, we have revised down our tracking forecast for US first-quarter GDP by 0.6 percentage points to -0.8% (quarter-over-quarter annualized). US GDP data will be released on the evening of the 30th.