US trade deficit hits 4-month high
According to the data of the US Department of Commerce, the foreign trade deficit increased by 2.7 percent in February to $ 70.5 billion. This was the highest level in 4 months.
Economists surveyed by Bloomberg expected $68.8 billion.
Imports decreased by 1.5 percent to $321.7 billion, while exports decreased by 2.7 percent to $251.2 billion. Imports of consumption goods fell for the first time in 3 months. The decline in exports and imports points to a decrease in both domestic and foreign demand due to economic uncertainties.
On the other hand, January data was revised from a deficit of $68.3 billion to a deficit of $68.7 billion.