WASHINGTON (AP) — The U.S. trade deficit unexpectedly shrank in January,
reflecting a big drop in imports of oil and foreign cars. American exports also
fell, a potential blow to hopes that the economic recovery will be aided this
year by U.S. sales abroad.
The Commerce Department said that the trade deficit declined to $37.3 billion
in January, a drop of 6.6 percent from a revised December deficit of $39.9
billion. Economists had been expected the deficit to widen to $41 billion.