US trade deficit rises in March for first time in eight months

A minor setback on the trade front, but hopefully it's merely temporary. The U.S. trade deficit increased in March for the first time in eight months, as exports declined faster than imports, the U.S. Commerce Department announced Tuesday.

The trade deficit increased 5.5 percent to $27.6 billion in March from $26.1 billion in February. Imports dipped 1 percent to a seasonally adjusted $151.2 billion -- the lowest level since September 2004. Exports, pushed lower by a large decline in capital goods and services, fell 2.4 percent to $123.6 billion, the lowest level since August 2006.