WASHINGTON — The U.S. international trade deficit retreated by $1.2 billion to $45.8 billion in February, the first decline in four months, the Commerce Department reported Tuesday.
Exports and imports both declined while the average price for an imported barrel of oil continued to surge higher. January’s trade deficit was revised higher to $47.0 billion.
Economists polled by Thomson Reuters expected a $44.0 billion deficit, according to the median estimate.