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Another reason to cut Q1 growth

International trade data Thursday could provide a deeper look at the strong dollar's impact on the economy in the first quarter and may result in economists again slashing growth forecasts.

Trade is released at 8:30 a.m. ET, the same time as weekly jobless claims. Factory orders for February are reported at 10 a.m.

The consensus forecast puts February's trade gap at $41.5 billion from $41.8 billion in January, but economists say there's a good chance the number could come up short. In January, the gap narrowed as oil imports fell, creating the lowest deficit for petroleum products in years. But economists this month are focused on whether exports are weakening due to dollar strength.

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