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Oil surged above $60 a barrel in New York for the first time since December on speculation the biggest U.S. supply glut in 85 years will ease.

The U.S. trade deficit widened in March to the highest level in more than six years, fueled by a record surge in imports as commercial activity resumed at West Coast ports after a resolution to labor disputes.

Manufacturing in April held at the weakest pace in almost two years, prompting factories to pull back on hiring as they await stronger demand in the United States and abroad.

Applications for U.S. jobless benefits declined last week to the lowest level in 15 years, showing employers view a first-quarter slowdown in the economy probably is temporary.

Consumer spending climbed in March, capping a lackluster first-quarter performance that was enough to keep the U.S. economy from shrinking.

The economy in the U.S. barely grew in the first quarter, buffeted by slumps in business investment and exports after oil prices plunged and the dollar surged.

The number of Americans who signed contracts in March to buy previously owned homes climbed after the biggest increase in more than four years, a sign for further progress in the housing recovery.

The Conference Board’s index of consumer confidence unexpectedly decreased to 95.2 in April from 101.4 a month earlier, the New York-based private research group said April 28.