US trade deficit fell to $46 billion in February, lowest in 4 months, as exports hit record
Posted April 12, 2012 8:51 am.
This article is more than 5 years old.
WASHINGTON – The U.S. trade deficit fell in February to the lowest point in four months because American exports rose to an all-time high while imports dropped.
The Commerce Department says the trade deficit decreased 12.4 per cent to $46 billion in February, down from $52.5 billion in January. A narrower deficit could lead economists to upward revise their growth estimates for the first quarter.
Exports edged up 0.1 per cent to a record $181.2 billion. Sales increasing to Europe, China and other parts of the world.
Imports dropped 2.7 per cent to $227.2 billion, after hitting a record high in January. Imports of foreign oil, cars and machinery all declined.
Economists are still concerned that Europe’s debt troubles and slower growth in China could dampen U.S. exports and drag on U.S. growth this year.
