By Greg Robb
WASHINGTON (MarketWatch) -- The U.S. trade deficit narrowed unexpectedly by 11% in March to $38.3 billion, the Commerce Department said Thursday. The trade gap was below the consensus forecast of Wall Street economists of a deficit of $42.0 billion. Both imports and exports fell in March with imports falling faster. The U.S. trade deficit with China narrowed to $17.9 billion in March compared with $21.7 billion in the same month last year. The narrower deficit in March could lead to an upward revision to U.S. first quarter economic growth. In its first estimate, the government said that economic growth rose at a 2.5% annual rate in the first quarter.
