U.S. trade gap narrows in April

WASHINGTON (MarketWatch)
The U.S. trade deficit narrowed by a seasonally-adjusted 4.9% in April to $50.1 billion, the Commerce Department said Friday
The trade deficit was above the consensus forecast of Wall Street economists of a deficit of $48.0 billion
The report included annual benchmark revisions which shifted the level of the deficit in March up to $52.6 billion from the prior estimate of $51.8 billion
Both imports and exports declined in April after hitting record highs in the prior month
The U.S. trade deficit with China widened to $24.6 billion in April compared with $21.6 billion in the same month last year
The country specific trade data is not seasonally adjusted