US Feb trade deficit widens

WASHINGTON, Apr 4 (Reuters): The US trade deficit widened for a second straight month in February as an increase in exports to a record high was offset by surging imports, suggesting trade could be a drag on economic growth in the first quarter.
The trade deficit increased 1.9 per cent to $68.9 billion, the Commerce Department's Bureau of Economic Analysis said on Thursday. Data for January was revised slightly to show the trade gap rising to $67.6 billion instead of $67.4 billion as previously reported. Economists polled by Reuters had forecast the deficit little changed at $67.3 billion in February.
When adjusted for inflation, the goods trade deficit increased 1.2 per cent to $87.0 billion in February.
Most of the imported goods likely ended up as inventories, which could offset the anticipated hit on gross domestic product from the widening trade gap.