February Trade Gap Narrows

The U.S. trade deficit narrowed 0.7% in February to a $58.4 billion, the Commerce Department reported Friday.

Economists had forecast the deficit would widen to $60 billion from an originally reported $59.1 billion January, Bloomberg reported. The revised January trade deficit was $58.9 billion.

Imports and exports both declined in the month, Commerce said.

Imports fell 1.7% to $182.4 billion, while exports fell 2.2% to $124 billion.