Trade Deficit in U.S. Narrowed More Than Forecast in March

The U.S. trade deficit narrowed more than forecast in March to its second-lowest level in three years as imports of consumer goods and business equipment declined.

The gap shrank 11 percent to $38.8 billion from a revised $43.6 billion in February, the Commerce Department reported today in Washington. The median forecast in a Bloomberg survey of 67 economists called for a $42.3 billion deficit. Imports dropped by the most since February 2009 as the U.S. shortfall with China fell to a three-year low.