Feb. U.S. trade deficit narrows to $46 billion

WASHINGTON (MarketWatch)
The U.S. trade deficit narrowed to $46 billion in February from $52.5 billion in January for a 12.4% drop, the largest percent decline since May 2009, the Commerce Department reported Thursday
Economists had expected the trade gap to narrow following a holiday-related increase in imports from China earlier this year
The trade deficit with China narrowed 26% in February, hitting $19.4 billion, compared with $26 billion in January
Overall exports rose 0.1% in February to $181.2 billion, while imports fell 2.7% to $227.2 billion. Exports and imports are an important component of U.S. gross domestic product. Deficits subtract from economic growth