US trade deficit widens in February as goods exports fall

WASHINGTON (Reuters) – The U.S. trade deficit widened more than expected in February as exports of goods declined, suggesting that trade could drag on economic growth in the first quarter. The trade deficit increased 2.7% to $70.5 billion, the Commerce Department said on Wednesday. Data for January was revised to show the trade gap widening to $68.7 billion instead of $68.3 billion as previously reported. Economists polled by Reuters had forecast the trade deficit rising to $69 billion. Exports fell 2.7% to $251.2 billion, likely reflect slowing global demand as well as the U.S. dollar’s past appreciation, which is making…