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Latest figures: The U.S. trade deficit shrank in February from a record at the start of the year, as stronger exports blunted the impact of a rush to secure goods and materials ahead of the Trump administration’s sweeping tariffs. The gap in goods and services trade narrowed 6.1% from the prior month to $122.7 billion, Commerce Department data showed Thursday. Read more from Bloomberg. A subscription may be required.
Stalling: Applications for home mortgages rose 2% for the week and were 9% higher than the same week a year ago. Applications to refinance a home loan dropped 6% for the week but were 57% higher than the same week a year ago. Experts say a broader concern among consumers about the state of the economy has helped keep mortgage demand muted. Read more from CNBC.
On the rise: A new analysis by the online lending marketplace LendingTree says that since 2023, the annual cost of raising a young child in the U.S. has jumped by nearly 36%, reaching about $30,000 a year. Louisiana saw the sixth-highest jump in the nation, with costs rising 30.3% to $250,395. Read more from Fast Company.
