US GDP fall overstated, December export figures show

The US economy probably expanded slightly in the fourth quarter, according to data yesterday that suggested a drop in gross domestic product reported by the government last week was overstated.

The trade deficit narrowed to its lowest point in nearly three years in December after a drop in oil imports and a surge in exports.

The trade gap narrowed to US$38.5 billion during the month, commerce department data showed yesterday.

A separate report from the commerce department showed wholesale inventories unexpectedly declined in December.

via Business feed http://www.scmp.com/business/economy/article/1146453/us-gdp-fall-overstated-december-export-figures-show