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The U.S. trade deficit narrowed to $37.29 billion in January, the Commerce Department said. A 1.7% decline in imports outpaced a 0.3% drop in exports as the volume of oil imports hit its lowest level in more than a decade.
Separately, the number of idled U.S. workers applying for jobless
benefits fell by 6,000 to 462,000 last week, the Labor Department reported, but total claims lasting more than one week rose and the four-week moving average of new claims also climbed.
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