SO IS THIS GOOD NEWS OR BAD NEWS?
The U.S. trade deficit narrowed more than forecast in April as a weaker dollar pushed exports to a record and demand for imports waned.
The deficit fell 6.2 percent, the most in six months, to $58.5 billion, from a revised $62.4 billion in March, the Commerce Department said today in Washington. The gap declined even as the shortfall with China widened.
The dollar’s drop and expanding economies in Europe and Asia are fueling demand for American-made goods and the deficit is retreating from a record $67.6 billion in August. The gain in exports may also help economic growth accelerate after the slowest quarter in more than four years.
Good news, I think. Am I wrong?