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US trade deficit drops to a six-year low point

The US trade deficit is improving somewhat. The Commerce Department reported that a decline in oil imports dropped the deficit last month to $321.7 million, the lowest in more than six years.

It said the value of overall imports fell 14.5 percent to the lowest level since July 1979, a result of oil import declines and lagging demand for other imported products.

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At the same time, an administration official said there are signs of fundamental improvement in the economy, though liberal economists expressed skepticism.

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