US October Trade Deficit Lowest Since 2009 as Imports Decline
The U.S. trade deficit contracted sharply in October, hitting the lowest level since mid-2009 as imports declined, a trend that if sustained could see trade again adding to economic growth in the fourth quarter.
The trade gap narrowed 39.0% to $29.4 billion, the lowest level since June 2009, the Commerce Department's Bureau of Economic Analysis and Census Bureau said on Thursday.
Economists polled by Reuters had forecast the trade deficit rising to $58.9 billion. The report was delayed because of the 43-day shutdown of the government.
Imports decreased 3.2% to $331.4 billion. Goods imports tumbled...
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