US: Trade deficit narrows to $49.4 billion in February vs $53.5 billion expected

"The goods and services deficit was $49.4 billion in February, down $1.8 billion from $51.1 billion in January, revised," the U.S. Census Bureau and the U.S. Bureau of Economic Analysis jointly announced on Wednesday.

Key takeaways from the press release

• February exports were $209.7 billion, $2.3 billion more than January exports.
• February imports were $259.1 billion, $0.6 billion more than January imports. 
• The average goods and services deficit decreased $0.4 billion to $53.5 billion for the three months ending in February.