U.S. Trade Gap Narrows for Second Straight Month in February

(C) Bloomberg. Super post-Panamex cranes stand at the Port of Baltimore. Photographer: Andrew Harrer/Bloomberg

(Bloomberg) — The U.S. trade deficit narrowed for a second straight month in February as imports and exports declined ahead of the hit to global commerce from the expanding pandemic.

The overall U.S. deficit in goods and services declined to $39.9 billion from a revised $45.5 billion in January, according to Commerce Department data released Thursday. The median estimate of economists surveyed by Bloomberg had called for a $40 billion shortfall.

(C)2020 Bloomberg L.P.