The U.S. goods and services trade deficit narrowed sharply in January, falling $18.4 billion to $54.5 billion from a revised $72.9 billion in December, as exports rose and imports edged lower. Exports increased 5.5% to $302.1 billion, while imports slipped 0.7% to $356.6 billion. The export gain was led by a sharp increase in overseas gold sales, continuing the large swings in precious-metals trade that have injected volatility into recent monthly data.
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