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March trade deficit drops by bigger-than-expected amount

y MARTIN CRUTSINGER | AP Economics Writer

8:34 AM EDT, May 9, 2008

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WASHINGTON - The U.S. trade deficit narrowed sharply in March as demand for imports fell by the largest amount since the last recession was ending.

The Commerce Department reported Friday that the deficit totaled $58.2 billion, down 5.6 percent from February.

The bigger-than-expected improvement reflected spreading weakness in the U.S. economy, which cut demand for imports by 2.9 percent, the largest one-month decline since December 2001, one month after the last recession ended.

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