February trade deficit widens to $71.1B, the highest on record

• February International Trade in Goods and Services: -$71.1B vs. -$70.4B consensus and -$67.8B prior (revised from -$68.2B).
• Exports: $187.3B
• Imports: $258.3B
• The February goods and services deficit is the highest on record, according to the U.S. Census Bureau.
• Also the highest on record: February imports of capital goods  at $59.7B.
• February petroleum deficit of $1.4B was the highest since July 2019 and it marks the first petroleum deficit since December 2019.