U.S. trade deficit widens for third straight month in February
By Greg Robb
Deficit hits $68.9 billion, largest since last April
The numbers: The U.S. international trade deficit widened 1.9% in February to a seasonally adjusted $68.9 billion, the Commerce Department said Thursday. It is the third straight month with a wider deficit and the largest imbalance since last April.
Economists surveyed by The Wall Street Journal had predicted the deficit would widen to $67.7 billion.
Key details: Exports rose 2.3% to $263 billion in February. Imports rose 2.2% to $331.9 billion.
Big picture: The deficit has started to trend higher as imports have been more resilient than exports. It is expected to be a slight drag on first-quarter GDP growth.
Overall global trade remains weak given the geopolitical tensions in many regions.
Market reaction: Stocks DJIA SPX were set to open higher on Thursday while the 10-year Treasury yield BX:TMUBMUSD10Y rose to 4.38% in early morning trading.
-Greg Robb
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04-04-24 0858ET
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