Key Takeaways
- US goods trade deficit reached $91.6 billion in February
- Exports of goods declined by $6.7 billion to $167.8 billion
- Imports of goods decreased by $6.2 billion to $259.5 billion compared to January
- Advanced wholesale inventories increased by 0.2% monthly to $920.3 billion
Overview
According to a preliminary report released by the US Census Bureau on Tuesday, the trade deficit in goods for the United States continued to increase in February, reaching $91.6 billion. This represents a rise of $0.5 billion from the previous month’s deficit of $91.1 billion.
During the reported month, the country’s exports of goods declined by $6.7 billion to $167.8 billion, while imports of goods decreased by $6.2 billion to $259.5 billion compared to January.
In February, advanced wholesale inventories increased by 0.2% on a monthly basis to $920.3 billion, which is a year-on-year surge of 12.2%. Furthermore, advanced retail inventories saw a 0.8% increase from January, reaching $747.3 billion, indicating an annual growth of 10.8%.
For a look at all of today’s economic events, check out our economic calendar.This article was originally posted on FX Empire
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