U.S. trade deficit holds at record high in February

The U.S. trade deficit barely budged from a record high in February, suggesting that trade remained a drag on economic growth in the first quarter. The Commerce Department said on Tuesday that the trade deficit dipped 0.1% to $89.2 billion in February.

The U.S. trade deficit barely budged from a record high in February, suggesting that trade remained a drag on economic growth in the first quarter.

The Commerce Department said on Tuesday that the trade deficit dipped 0.1% to $89.2 billion in February. Data for December was revised to show a $89.2 billion shortfall, still an all-time high, instead of the previously reported $89.7 billion.

Economists polled by Reuters had forecast a $88.5 billion deficit. Trade has subtracted from gross domestic product growth for six straight quarters.