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The US trade deficit narrowed in December to the lowest level in three months, data released on Tuesday showed.

The gap fell to $44.3bn in December, from $45.7bn in the previous month, marking the slimmest level since October, according to the Commerce Department. Wall Street economists had forecast a slightly higher reading of $45bn.

Trade figures into broader gauges of economic output, with smaller deficits representing a lighter drag on gross domestic product.

US President Donald Trump has made the subject a key issue of his administration, arguing many trade deals hurt corporate America, meaning the balance of trade figures may take on added significance.

Copyright The Financial Times Limited 2017. All rights reserved.
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