(Kate Davidson – Wall Street Journal)
The U.S. trade gap shrank to its lowest level in more than five years last month, largely reflecting a hangover from the West Coast ports labor dispute that left a bottleneck of goods.
The trade deficit narrowed to a seasonally adjusted $35.44 billion in February, the Commerce Department said Thursday, and January’s deficit was also revised lower.
Overall, exports decreased 1.6% from January to $186.25 billion, while imports fell 4.4% to $221.69 billion. That was the largest drop in imports since the recession ended in 2009. Click here to read more.