The U.S. trade deficit narrowed in April as exports jumped to a record high, a trend that if sustained, puts trade on course to contribute to economic growth this quarter.
The trade gap contracted 1.2% to $55.9 billion, the Commerce Department's Bureau of Economic Analysis and Census Bureau said on Tuesday. Data for March was revised lower to show the deficit at $56.6 billion instead of the previously reported $60.3 billion.
Economists polled by Reuters forecast the trade deficit shrinking to $56.2 billion in April. Trade has been a drag on gross domestic product for two straight quarters.
