ECONOMY NEWS LINES

March trade deficit drops by bigger-than-expected amount (AP) AP - The U.S. trade deficit narrowed sharply in March as demand for imports fell by the largest amount since the last recession was ending. Analysts forecast that trade would continue to be one of the economy's few bright spots this year.

AP - Oil rose above $126 a barrel for the first time Friday, bringing its advance this week to nearly $10, as investors questioned whether a possible confrontation between the U.S. and Venezuela could cut exports from the OPEC member. Gas prices, meanwhile, rose above an average $3.67 a gallon at the pump, following oil's recent path higher.

Reuters - Goldman Sachs economists expect a total of $500 billion in residential mortgage credit losses, a renewed slowdown in economic activity after the near-term boost from fiscal stimulus, and no monetary policy tightening in 2008 or 2009, according to a research note from the firm.

Reuters - A record drop in U.S. imports because of slowing domestic demand took a big bite out of the U.S. trade deficit in March despite record high oil prices.

Reuters - The U.S. economic downturn has spread personal financial worries far and wide, but women are more worried about paying bills, losing jobs, providing for children and saving for retirement, according to a study released on Thursday.

AP - Caught in the maelstrom of higher gas and food prices, Americans — even more affluent ones — are seeking shelter in wholesale clubs and discount apparel chains.

AP - It's a few days before Mother's Day and Robert Jenkins jumps every time the phone rings.

Reuters - Former Federal Reserve Chairman Alan Greenspan said on Thursday that the worst of the credit crisis is over, according to sources who attended a speech he delivered in New York.

AP - Rates on 30-year mortgages edged down slightly this week, but remained above 6 percent for the third straight week.

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