By Greg Robb
Story developing. Stay tuned for updates here.
The numbers: The U.S. trade deficit in goods widened 1.5% to $91.8 billion in February, according to the Commerce Department’s advanced estimate released Friday. It’s the largest deficit since last April.
Economists polled by Econoday were looking for the deficit to widen slightly to $90.6 billion.
The report also showed a 0.5% gain in wholesale inventories in February. And advanced retail inventories were also up 0.5%. Excluding autos, retail inventories were up 0.4%.
Key details: Imports expanded at a faster pace than exports in February, the Commerce Department said.
Exports of goods rose $4.8 billion to $175.1 billion in January. Imports rose $6.1 billion to $266.9 billion.
Market reaction: The stock and bond markets were closed for the Good Friday holiday.
