(RTTNews) – A report released by the Commerce Department on Friday showed the U.S. trade deficit narrowed more than expected in the month of January, as the value of imports fell by more than the value of exports.
The Commerce Department said the trade deficit narrowed to $45.3 billion in January from a revised $48.6 billion in December.
Economists had expected the trade deficit to narrow to $46.1 billion from the $48.9 billion originally reported for the previous month.
The narrower deficit came as the value of imports tumbled by 1.6 percent to $253.9 billion, while the value of exports fell by 0.4 percent to $208.6 billion.
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