The Commerce Department released a report on Thursday showing the U.S. trade deficit narrowed by much more than expected in the month of January.
The report said the trade deficit shrank to $54.5 billion in January from a revised $72.9 billion in December.
Economists had expected the trade deficit to decrease to $67.9 billion from the $70.3 billion originally reported for the previous month.
The narrower than expected trade deficit came as the value of exports spiked by 5.5 percent to $302.1 billion in January after slumping by 1.6 percent to $286.3 billion in December.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.