U.S. Trade Deficit Narrows as Imports Slump Most in Seven Years

America’s trade deficit shrank more than forecast in March as imports fell in percentage terms by the most in seven years and outpaced a decline in shipments overseas.

The gap narrowed 13.9 percent to $40.4 billion, the smallest since February 2015, the Commerce Department reported Wednesday. The median forecast in a Bloomberg survey called for a $41.2 billion deficit.