WASHINGTON (March 27): The US trade deficit in goods narrowed in February amid a rise in exports, which could temper economists' expectations for a sharp slowdown in economic growth in the first quarter.
The goods trade deficit contracted 4.9% to US$147.9 billion (RM655.5 billion) last month, the Commerce Department's Census Bureau said on Thursday.
A sharp widening in the goods trade deficit in January as businesses front-loaded imports to get ahead of tariffs had prompted economists to slash their first-quarter gross domestic product estimates to below a 1.5% annualised rate. The economy grew at a 2.4% pace in the fourth quarter.
Goods exports increased US$7 billion to US$178.6 billion last month, while imports fell US$0.6 billion to US$326.5 billion.
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