Business

US trade deficit hit $42.3b in February

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The US trade deficit climbed to the highest level in five months in February as demand for American exports fell while imports increased slightly.

The deficit increased to $42.3 billion, which was 7.7 percent above the January imbalance of $39.3 billion, the Commerce Department reported Thursday.

A higher trade deficit acts as a drag on economic growth because it means US companies are making less overseas than their foreign competitors are earning in US sales.

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