Thursday, April 3, 2014

Trade Deficit Grew in February

The U.S trade deficit widened by $3.0 billion in February, reaching $42.3 billion, as exports fell and imports grew. This is the third consecutive month the deficit has grown.

The report was lackluster and shows an economy slowly improving. Exports dropped 1.1% in February, to $190.4 billion. Imports rose 0.5% to $232.7 billion. Notably, the goods deficit grew to $61.7 billion, the highest deficit in 5 months.

The real goods deficit, which is important for the calculation of GDP, grew to $50.1 billion, which included gains in petroleum.

Read the Census report.

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