Trade gap shrinks as exports fall for month
The U.S. trade deficit shrank in April, but only because a big drop in imports offset the first decline in U.S. exports in five months. The Commerce Department said Friday that the trade deficit narrowed 4.9 percent in April to $50.1 billion. U.S. exports, which had hit a record the previous month, fell 0.8 percent to $182.9 billion. Sales of everything from commercial jetliners to industrial machinery declined.