U.S. Trade Deficit Unexpectedly Narrows To $49.4 Billion In February

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A report released by the Commerce Department on Wednesday showed the U.S. trade deficit unexpectedly narrowed in the month of February amid a jump in the value of exports.

The Commerce Department said the trade deficit narrowed to $49.4 billion in February from $51.1 billion in January, while economists had expected the deficit to widen to $53.5 billion.

The narrower deficit came as the value of exports surged up by 1.1 percent to $209.7 billion in February from $207.4 billion in January.

The report also showed a more modest increase in the value of imports, which rose by 0.2 percent to $259.1 billion in February from $258.5 billion in the previous month.

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