U.S. Trade Deficit Rises

The U.S. trade deficit rose to a 15-month high in March, giving more evidence that the economy is on the rebound.

The Commerce Department said Wednesday that the trade deficit rose 2.5 percent to $40.4 billion in March. Economists were expecting a $40.1 billion deficit.

The higher deficit is evidence of an improving economy. Last year as demand sagged the trade deficit shrank to its lowest level in eight years.

The increase in imports was led by a 25.5 percent jump in crude oil shipments, which rose to $22.3 billion in March, the highest since October 2008. This increase reflected higher volume and prices.