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- U.S. trade deficit narrows more than forecast in October
U.S. trade deficit narrows more than forecast in October
The U.S.
Commerce Department reported on Thursday U.S. the goods and services trade
deficit narrowed to $47.2 billion in October from a revised $51.1 billion in
the previous month (originally a gap of $52.5). This represented the lowest trade gap since May of 2018.
Economists had
expected a deficit of $48.7 billion.
According to
the report, the October decline in the goods and services deficit reflected a
decrease in the goods deficit of $3.7 billion to $68.0 billion and an advance
in the services surplus of $0.2 billion to $20.8 billion.
Exports of
goods and services from the U.S. fell 0.2 percent m-o-m to $207.1 billion in
October, while imports dropped 1.7 percent m-o-m to $254.3 billion.
Year-to-date,
the goods and services deficit rose 1.3 percent from the same period in 2018.
Exports declined less than 0.1 percent, while imports grew 0.2 percent.
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