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U.S. Trade Deficit Narrows
The U.S. trade deficit narrowed in March, as imports dropped by the most in more than six years, the, the Commerce Department said Friday.
The trade gap declined to $58.2 billion, the lowest this year, from a revised $61.7 billion the previous month, February’s deficit had originally been reported at $62.3 billion.
Economists had forecast a $61 billion gap, Bloomberg reported.
Exports fell 1.7% to $148.5 billion, while imports fell 2.9%, the most since December 2001, to $206.7 billion, Commerce said.
Crude oil purchases dropped, even as the average price for the month increased.
