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- U.S. trade deficit narrowed to $39.0 billion in November
U.S. trade deficit narrowed to $39.0 billion in November
The U.S. Commerce Department released the trade data on Wednesday. The U.S. trade deficit narrowed to $39.0 billion in November from a deficit of $42.2 billion in October. That was the lowest level since December 2013. October's figure was revised up from a deficit of $43.4 billion. Analysts had expected a trade deficit of $42.3 billion.
The decline of a deficit was driven by falling oil prices.
Exports decreased 1.0% in November.
Exports to the European Union fell 7.7% in November. Exports to China declined 3.9%, while exports to Japan decreased 9.7%.
Imports dropped 2.2% in November. Petroleum imports reached the lowest level since August of 2009.
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