US Trade Deficit Narrows Less Than Expected in Feb.
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The trade deficit narrowed in the U.S. during February from a seven-month high as import demand fell for the first time in four months.
The Commerce Department reported Tuesday the trade deficit in the U.S. contracted 2.6 percent to $45.8 billion from a revised $47 billion in January, when imports reached a more than two-year high.
Economists had estimated the gap would shrink even more to $44 billion in February, from a previously reported deficit of $46.3 billion in January.
Imports in February fell 1.7 percent from $214.5 billion to $210.9 billion in the prior month, the largest decline since August 2008. Exports dropped 1.4 percent to $165.1 billion from $167.5 billion.
January's deficit was the widest since last June as demand for crude oil pushed imports up 5.4 percent.
The Commerce Department reported Tuesday the trade deficit in the U.S. contracted 2.6 percent to $45.8 billion from a revised $47 billion in January, when imports reached a more than two-year high.
Economists had estimated the gap would shrink even more to $44 billion in February, from a previously reported deficit of $46.3 billion in January.
Imports in February fell 1.7 percent from $214.5 billion to $210.9 billion in the prior month, the largest decline since August 2008. Exports dropped 1.4 percent to $165.1 billion from $167.5 billion.
January's deficit was the widest since last June as demand for crude oil pushed imports up 5.4 percent.
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