Keeping you up to date on the latest data releases.
- International Trade
The nominal trade deficit widened by $2.8 billion to $39.7 billion in February, nearly erasing its $3.0 billion narrowing in January. This marks the third widening in four months and brings the deficit to $13.9 billion above its recent low reached last May. Both exports and imports rose modestly in February, though the 1.7 percent increase in imports outweighs the 0.2 percent increase in exports. A 0.5 percent increase in exports of services drove the overall rise in exports, while imports were led by a 2.1 percent increase in industrial supplies and materials and a 3.1 percent jump in consumer goods. Automobile exports climbed 2.3 percent and automobile imports fell 4.7 percent to their lowest level since August. The 12-month growth rate of exports slipped to 14.3 percent, while year-over-year import growth leapt to 20.5 percent from 11.8 percent in January.