Trade Deficit increases in February

The Census Bureau reports:

[T]otal February exports of $143.2 billion and imports of $182.9 billion resulted in a goods and services deficit of $39.7 billion, up from $37.0 billion in January, revised.

Calculated Risk:

On a year-over-year basis, exports are up 14% and imports are up 20%. This is an easy comparison because of the collapse in trade at the end of 2008 and into early 2009. This is the first time since late 2008 that imports are up a greater percentage than imports on a YoY basis as export growth appears to have slowed...

 

In general trade has been increasing, although both imports and exports are still below the pre-financial crisis levels. Exports boosted the economy over the last year, however it now appears that export growth has slowed. Imports are still increasing even with the lower oil deficit in February

 

Posted via email from Jim Nichols