US trade deficit increases by slightly less than forecast in April

America's trade shortfall with the rest of the world widened by a tad less than economists had been anticipating in April.

According to the Department of Commerce, the US foreign trade deficit in goods increased by 0.3% month-on-month to reach $72.1bn.

Economists had been calling for a rise to -$72.5bn.

Exports fell by 4.2% versus March to hit $134.6bn while imports fell by 2.6% to $206.7bn.