U.S. Trade Deficit Widens in February
The U.S. trade deficit jumped 5.7% in February, as an increase in imports topped the highest gain in exports in a year, the Commerce Department said Thursday.
The increase reflected an increase in exports that swamped record U.S. exports, Bloomberg reported.
The trade gap rose to $62.3 billion, the highest since November, from a revised $59 billion in January. Economists had forecast a $57.5 billion gap, Bloomberg reported.
Exports climbed 3.1%, the most in a year, while imports rose to a record $213.7 billion led by automobiles, industrial machines and pharmaceuticals.
