Reflecting a steep drop in the value of imports, the Commerce Department released a report on Thursday showing the U.S. trade deficit narrowed significantly in the month of February.
The Commerce Department said the trade deficit narrowed to $39.9 billion in February from a revised $45.5 billion in January.
Economists had expected the deficit to narrow to $40.0 billion from the $45.3 billion originally reported for the previous month.
The narrower deficit came as the value of imports plunged by 2.5 percent to $247.5 billion, while the value of exports fell by 0.4 percent to $207.5 billion.
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