Washington
THE US goods trade deficit narrowed sharply in February, and inventories increased, which could prompt economists to raise their estimates for first-quarter gross domestic product (GDP).
The Commerce Department said in its advance economic indicators report on Tuesday that the goods deficit fell 5.9 per cent to US$64.8 billion last month as a decline in imports outpaced a drop in exports.
The weakness in imports is in line with a recent moderation in consumer spending. The government also...