Goldman Sachs significantly lowered the U.S. GDP growth rate for the first quarter to -0.8%.

Jin10 Data, April 30 - Goldman Sachs' latest research report indicates that the U.S. trade deficit in goods widened more than expected in March. Both imports and exports of goods increased in March. The main reason for the widening trade deficit is the increase in consumer goods imports, which may reflect a "rush" to import before tariff hikes. Details from leading economic indicators show that, compared to our previous GDP tracking assumptions, import growth was significantly strong, while export growth improved moderately, and inventory accumulation accelerated. Overall, we have lowered our tracking forecast for U.S. first-quarter GDP by 0.6 percentage points to -0.8% (quarterly annualized). U.S. GDP data will be released on the evening of the 30th.