US trade deficit worsens in February

The US trade deficit worsened in February, rising from $45.9bn to $47.1bn, according to the Department of Commerce.

Analysts had pencilled in a shortfall of $46.2bn.

An increase in the deficit in the trade balance for goods from $63.8bn to $64.7bn was partially offset by a larger surplus in services balance, with the latter improving by $0.3bn to $17.7bn.

January’s reading on the total trade deficit was revised slightly higher, from -$45.68bn to -$45.9bn.

Year-to-date the total US trade deficit worsened by $10.8bn or 13.1% versus the same period of 2015, with exports falling by 5.5% or $20.5bn while imports declined by 2.1% or $9.7bn.