Goods trade deficit narrows, consumer confidence soars
Consumers also expect more and better paying jobs in the months ahead
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 said inventories at retailers increased 0.4 per c…
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