U.S. Trade Deficit Falls to Lowest Level Since 2003
The December U.S. trade deficit fell to the smallest level in almost six years, the Commerce Department said Wednesday.
The gap between imports and exports shrank 4% to $39.9 billion, largely due to a declining oil prices and demand, and was the smallest level since February 2003.
Economists had forecast the deficit would fall to $35.7 billion, Bloomberg reported.
Exports fell 6% to $133.8 billion, while imports fell 5.5% to $173.7 billion, Commerce reported.
