The Bush economy, with 4.7% unemployment and economic growth around 4%, keeps rolling.

The U.S. trade deficit narrowed by 5.6% in March to $62.0 billion, the Commerce Department said Friday. This is the lowest trade gap since last August and the first two-month decline in the deficit since late 2003. The narrowing of the trade deficit was unexpected. The consensus forecast of Wall Street economists was for the deficit to widen to $66.9 billion. Exports rose to a new record while imports inched lower in March. The U.S. trade deficit with China widened to $15.6 billion in compared with $12.9 billion in the same month last year.

For the uninitiated, exports are goods and services made in America that are purchased by foreigners, so more is better.

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