U.S. trade deficit widens for third straight month in February

By Greg Robb

The deficit reaches 68.9 billion dollars, the 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 consecutive month with a larger 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 rise 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 geopolitical tensions in many regions.

Market Reaction: DJIA SPX shares are expected to open higher on Thursday, while the 10-year Treasury yield BX:TMUBMUSD10Y rose to 4.38% in early morning trading.

-Greg Robb

This content was created by MarketWatch, operated by Dow Jones & Co. MarketWatch is published independently of Dow Jones Newswires and The Wall Street Journal.

 

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04-04-24 0858ET

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