U.S. Trade Gap Shrinks on Bigger Drop in Imports: Economy
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The U.S. trade deficit narrowed in April as a drop in imports overshadowed the first decline in exports in five months that reflected a slump in shipments to Europe.
The gap shrank to $50.1 billion, down 4.9 percent, from $52.6 billion in March and the second decrease in the last three months, Commerce Department figures showed today in Washington. The median forecast in a Bloomberg News survey of 73 economists called for the deficit to shrink to $49.5 billion.