Plunging domestic demand for oil and foreign cars unexpectedly narrowed the US trade gap in January, official figures showed yesterday, lifting hopes for stronger economic growth in the first quarter.
Separately yesterday, the labour department said that new claims for jobless benefits slipped lower last week, offering a ray of hope that stubbornly high unemployment levels are slowly easing.
The trade deficit fell by 6.5 per cent to $37.3bn (€27.31bn, ￡24.81bn), according to the commerce department, clashing with economists' predictions that the gap would widen.
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