India, May 2 -- The U.S. trade deficit edged slightly lower in the month of March, according to a report released by the Commerce Department on Thursday.
The Commerce Department said the trade deficit narrowed to $69.4 billion in March from a revised $69.5 billion in February
Economists had expected the trade deficit to inch up to $69.1 billion from the $68.9 billion originally reported for the previous month.
The report said the value of imports slumped by 1.6 percent to $327.0 billion in March after surging by 2.3 percent to $332.4 billion in February.
The sharp pullback by imports largely reflected a steep drop in imports of automotive vehicles, parts and engines.
Imports of industrial supplies and materials and cell phones and othe...