US Trade Deficit Widens In February As Exports Slump More Than Imports

WASHINGTON (dpa-AFX) – With exports slumping by more than imports, the Commerce Department released a report on Wednesday showing the U.S. trade deficit widened more than expected in the month of February. The Commerce Department said the trade deficit increased to $70.5 billion in February from a revised $68.7 billion in January. Economists had expected the trade deficit to rise to $69.0 billion from the $68.3 billion originally reported for the previous month. The bigger than expected trade deficit partly reflected a steep drop in the value of exports, which plunged by 2.7 percent to $251.2 billion in February after…