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WASHINGTON (MarketWatch) - The U.S. trade deficit narrowed unexpectedly in March on a surge of exports of capital and consumer goods and farm products, the Commerce Department said Wednesday.
The deficit narrowed by 9.2% in March to $55.0 billion.
This is the lowest level of the trade deficit since last September and the largest monthly decline since Dec. 2001.
The narrowing of the trade gap was unexpected.
The consensus forecast of Wall Street economists was for the deficit to widen to $61.2 billion.
The trade gap in February was revised down to $60.6 billion compared with the initial estimate of $61 billion.

8:30am 05/11/05 DOLLAR GAINS VE YEN, EURO AFTER TRADE DATA

8:30am 05/11/05 U.S. MARCH TRADE GAP NARROWS 9.2% TO $55 BILLION

8:30am 05/11/05 U.S. MARCH TRADE GAP $55.0 VS. $61.2B EXPECTED