A report released by the Commerce Department on Friday showed the U.S. trade deficit narrowed in the month of December, as the value of exports jumped by more than the value of imports.
The Commerce Department said the trade deficit narrowed to $66.6 billion in December from a revised $69.0 billion in November.
Economists had expected the trade deficit to shrink to $65.7 billion from the $68.1 billion originally reported for the previous month.
The narrower deficit came as the value of exports surged up by 3.4 percent to $190.0 billion, while the value of imports increased by 1.5 percent to $256.6 billion.
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