Feb 8 - The U.S. trade deficit narrowed to $38.5 billion in December, suggesting the economy actually grew at the end of last year, instead of contracting. Conway G. Gittens reports.
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The Daily Digit is $38.5 billion.
The U.S. trade deficit dropped to $38.5 billion in December, its narrowest point in nearly three years, the Commerce Department said on Friday.
Reason? A surge in exports and lower imports of oil, mostly.
The tapered number surprised analysts polled by Reuters, who expected a deficit of $46 billion.
The figure means that the U.S. economy likely expanded slightly at the end of last year, instead of the drop in fourth quarter GDP reported by the government last week.
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