The U.S. trade deficit unexpectedly declined in March for a second consecutive month, something that hasn’t happened in more than two years. The improvement reflected record U.S. exports and a big drop in the country’s foreign oil bill.
The Commerce Department reported Friday that the gap between what the country sells abroad and what it imports narrowed to $62 billion in March, the smallest deficit in seven months. It was a 5.5 percent improvement from February’s $65.6 billion deficit which in turn had fallen from the all-time high of $68.6 billion set in January.
& #8226;
Read the full Associated Press story
.