The U.S. trade deficit in goods narrowed in February after setting a record high in the prior month as exports rebounded, but any lift to economic growth this quarter could be offset by businesses slowing their pace of inventory accumulation.
The deficit fell 0.9% to $106.6 billion, the Commerce Department said on Monday. Exports increased 1.2% to $157.2 billion. The rebound in exports was led by a 6.3% surge in shipments of consumer goods.
While businesses continued to replenish inventories in February, the pace was less frantic than in the last months of 2021. Wholesale stocks increased 2.1% after climbing 1.1% in January. Retail inventories rose 1.1% in February following a 1.9% advance in January.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. trade deficit in goods slips for first time in three months after setting recordThe U.S. trade deficit in goods fell slightly in February to $106.6 billion to mark the first decline in three months, but the gap stayed near an all-time...
Read more »
Biden's budget to boost military, raise taxes on billionairesU.S. President Joe Biden is expected on Monday to ask Congress for record peacetime military spending while raising taxes from billionaires and projecting lower government deficits.
Read more »
Walmart stops cigarette sales in certain U.S. stores - WSJWalmart Inc is stopping cigarette sales in some U.S. stores after years of debate within the retail giant's management team about selling tobacco products, the Wall Street Journal reported on Monday.
Read more »
Walmart stops selling cigarettes in some stores in various marketsWalmart Inc. is ending cigarette sales in some U.S. stores after years of debate within the retail company’s leadership ranks about the sale of tobacco...
Read more »
Durable Goods Orders Plunge More Than ExpectedThis was the first decline in capital goods spending in a year, raising fears that the economy might be slowing more than expected. | Economy
Read more »
Analysis: U.S. mulls shaking up stock trading rules to aid small investorsWall Street's regulator is considering changes to stock market rules to increase competition for orders and improve deals for retail investors, according to its top official Gary Gensler and industry executives.
Read more »