The U.S. trade deficit soared to an all-time high of $61.04 billion in February as the U.S. economy sucked in record imports, the government said on Tuesday.
The Commerce Department said the trade gap widened 4.3 percent from January, despite a slight increase in exports to a record $100.5 billion. The monthly shortfall was greater than the median estimate of $59 billion from Wall Street analysts. The unexpectedly large jump in the trade gap is likely to cause analysts to trim their estimates for first-quarter economic growth.
