The U.S. trade deficit narrowed more than expected in January.
On Friday, Commerce Dept. data suggested that US trade deficit fell -6.7% to $45.3 billion. Both imports and exports had declined. Economists polled by Reuters had predicted a deficit of $46.1 billion for January.
The coronavirus crisis has disrupted production and supply chains related to and in China, and is a potential factor behind the lower imports in the US. US goods exported to and imported from China both were lower in January, compared to December.
US overall goods imports fell -2.0% from prior month to $203.4 billion. Goods exports fell -1.0% month-over-month to $136.4 billion.