Trade Deficit Reaches 10-Month High
The improving economy helped drive up the U.S. trade deficit in February to its highest point in 10 months as Americans’ appetite for foreign-made cars, televisions and other goods increased.
The trade gap widened to $31.5billion, an 11.6% increase from January’s deficit, the Commerce Department reported.
With imports growing more quickly than exports as the economy rebounds, the trade gap expanded more than expected.
February’s deficit was the biggest since a $31.9-billion shortfall in April 2001.
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