US Trade Deficit Jumps 4.8% to $71.1 Billion in February

US Trade Deficit Jumps 4.8% to $71.1 Billion in February

The US trade deficit grew to $71.1 billion in February, as a decline in exports more than offset a slight dip in imports. The February gap between what America buys from abroad compared to what it sells abroad jumped 4.8 per cent the revised January deficit of $67.8 billion, the Commerce Department said Wednesday.

The increase reflected a 2.6 per cent decline in exports of goods and services to $187.3 billion on a seasonally adjusted basis. That wiped out a 0.7 per cent decline in imports, which ticked down 0.7 per cent from January’s record high of $260.1 billion.

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