The U.S. trade deficit narrowed in the quarter.

The nation’s merchandise trade deficit--the amount by which imports exceeded exports--narrowed in the fourth quarter of 1984 to a seasonally adjusted $22.89 billion, compared to a revised record deficit of $33.09 billion in the third quarter and a deficit of $25.8 billion in the second quarter, the Commerce Department reported. However, for all of 1984, the deficit rose to a record $107.6 billion, surpassing the previous record of $61.06 billion in 1983. The latest figures showed the same trend but smaller totals and greater detail than those reported Jan. 30 because they were adjusted to exclude military shipments and incorporated gold shipments, shipping and insurance expenses. Without the adjustments, on a balance of payments basis, the earlier figures--based simply on import-export documents--showed a 1984 deficit of $123.3 billion.