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Economists are monitoring both the inflationary and demand impacts from soaring prices of gasoline, diesel and other petroleum products. 

The gap in goods and services trade shrank more than 25% from the prior month to $54.5 billion, Commerce Department data showed March 12.

The goods and services trade gap nearly doubled from the prior month to $56.8 billion, Commerce Department data showed Jan. 29. The trade data has been prone to volatility related to trade policy.

The goods and services trade gap shrank 39% from the prior month to $29.4 billion, Commerce Department data showed Jan. 8. Imports decreased 3.2%.

Transportation and warehousing employment fell by 8,000 jobs in November and is down 78,000 jobs since its February peak, according to the BLS Employment Situation report for November.

The goods and services trade gap shrank nearly 11% from the prior month to $52.8 billion, Commerce Department data showed Dec. 11.

The goods and services trade gap narrowed almost 24% from the prior month to $59.6 billion, the Commerce Department said. The report was delayed from Oct. 7 by the federal government shutdown.

Many federal operations will pause and nonessential employees will be furloughed or fired if lawmakers can’t reach an agreement by the time the current fiscal year ends on Sept. 30.

The National Federation of Independent Business optimism index advanced 0.5 point to 100.8, the highest level since January.

Manufacturing output, which accounts for three-fourths of total industrial production, was unchanged after an upward revision to June. Mining and utility output both declined.