About: http://data.cimple.eu/news-article/7d219260bc482b2cb5f04ebaa929f37d7c37c14f4d9672bb40355179

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rdf:type	schema:NewsArticle
schema:articleBody	The US trade deficit grew to a record high in February, with exports falling more than imports as the American economic recovery picks up steam, government data showed on Wednesday. The 4.8 percent increase in the trade deficit to $71.1 billion reported by the Commerce Department was slightly larger than analysts had forecast and up from the downwardly revised $67.8 billion in January. Exports fell 2.6 percent to $187.3 billion and imports 0.7 percent to $258.3 billion, which Oren Klachkin of Oxford Economics said was a sign that the US economy's bounceback from the Covid-19 pandemic was beginning to outpace that of its trading partners. "Faster US growth relative to the rest of the world has widened the trade deficit to a historic record," he said in a note. The services surplus fell half a billion dollars to $16.9 billion, its lowest level since 2012, which Klachkin blamed on the pandemic. After plunging as the Covid-19 crisis began last year, Klachkin predicted that the trade deficit would widen further if massive stimulus checks and Covid-19 vaccines help the world's largest economy to strengthen over the coming months. "Better health conditions, reopenings, and fiscal stimulus will boost domestic demand and keep a strong pull on imports," Klachkin said. However, he predicted US exports would likely face a lengthier recovery as the rest of the world continues to struggle with coronavirus cases. cs/dw
schema:headline	US trade deficit widens further in February as economy heals
schema:mentions	Deutsche Welle Balance of trade University of Oxford Pandemic United States Severe acute respiratory syndrome coronavirus 2 Coronavirus disease 2019 Oren Waters United States Department of Commerce Fiscal policy
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-04-07 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	61 (xsd:integer)

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