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.
US Feb trade deficit widens
FE Team | Published: April 04, 2024 22:20:21
US Feb trade deficit widens
Share if you like