A new record monthly trade deficit A new US record trade deficit is confirmed for February, coming in at -$71.1bn versus -$67.8bn in January. Imports fell 0.7% month-on-month, but exports fell 2.6% MoM with bad weather in February likely to have disrupted transport activity to some extent. Weather and pandemic constraints are impacting the data Supply constraints relating to an uneven re-opening pattern and industry specifics, such as the global shortage of semi-conductor chips, may also be leading to businesses curtailing imports of other components in the production process (auto parts, for example). It is also ... (full story)