Trade Deficit Widens, Once Again More Than Consensus
Mike Mish Shedlock
The U.S. Census Bureau announced today that the goods and services trade deficit was $57.6 billion in February, up $0.9 billion from $56.7 billion in January. The bureau revised January slightly wider, from $56.6 billion as originally reported.
Exports, Imports, and Balance
- February exports were $204.4 billion, $3.5 billion more than January exports.
- February imports were $262.0 billion, $4.4 billion more than January imports.
- The February increase in the goods and services deficit reflected an increase in the goods deficit of $0.3 billion to $77.0 billion and a decrease in the services surplus of $0.6 billion to $19.4 billion.
- Year-to-date, the goods and services deficit increased $21.1 billion, or 22.7 percent, from the same period in 2017.
- Year-to-date, exports increased $22.4 billion or 5.9 percent. Imports increased $43.6 billion or 9.1 percent.
- The deficit with Mexico increased $1.0 billion to $6.6 billion in February. Exports decreased less than $0.1 billion to $21.9 billion and imports increased $0.9 billion to $28.5 billion.
- The deficit with Germany increased $0.4 billion to $6.7 billion in February. Exports decreased $0.2 billion to $4.7 billion and imports increased $0.2 billion to $11.3 billion.
- The deficit with Canada decreased $1.2 billion to $0.4 billion in February. Exports increased $1.2 billion to $26.1 billion and imports increased less than $0.1 billion to $26.4 billion.
- The deficit with China decreased $0.8 billion to $34.7 billion in February. Exports increased $0.2 billion to $10.7 billion and imports decreased $0.6 billion to $45.4 billion.
Expect more screams from Trump.
Mike "Mish" Shedlock