Economics
U.S. Trade Gap Narrows to Eight-Month Low on Plane Exports
- China deficit shrinks though trade declines from year earlier
- Net exports may be on track to add to first-quarter U.S. GDP
Photographer: Mark Elias/Bloomberg
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The U.S. trade deficit unexpectedly narrowed to an eight-month low in February on a surge in civilian aircraft exports, which may come under pressure after the grounding of Boeing Co.’s 737 Max planes.
The deficit in goods and services declined to $49.4 billion from $51.1 billion, reflecting a 1.1 percent rise in exports and a 0.2 percent increase in imports, the Commerce Department said Wednesday. Analysts had projected a widening to $53.4 billion. The merchandise-trade gap with China -- the main target of President Donald Trump’s trade war -- narrowed to $30.1 billion.