U.S. Trade Deficit Declined in February
The U.S. Department of Commerce’s Census Bureau and the Bureau of Economic Analysis (BEA) recently announced that exports in February 2012 increased to $181.2 billion from January’s total exports of $180.9 billion. Additionally, imports were down $6.3 billion from January which resulted in a notable decrease in the goods and services deficit from $52.5 billion in January, revised to $46 billion in February.
The most notable change was in the import of goods which decreased from January to February by $6.5 billion. Meanwhile exports of goods increased $0.6 billion, exports of services increased $0.8 billion and imports of services increased $0.2 billion.
For the three months ending in February, the average trade deficit was $49.7 billion, down from the three months ending in January when the average trade deficit was $50.2, but up from December when the three preceding months’ average trade deficit was $46.3 billion.
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