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- U.S. trade deficit narrows slightly more than expected in November
U.S. trade deficit narrows slightly more than expected in November
The U.S. Commerce Department reported on Tuesday that U.S. the goods and services trade deficit narrowed to $43.1 billion in November from a revised $46.9 billion in the previous month (originally a gap of $47.2). This represented the lowest trade gap since October of 2016.
Economists had expected a deficit of $43.8 billion.
According to the report, the November decline in the goods and services deficit reflected a decrease in the goods deficit of $3.9 billion to $63.9 billion and a drop in the services surplus of less than $0.1 billion to $20.8 billion.
Exports of goods and services from the U.S. rose 0.7 percent m-o-m to $208.6 billion in November, while imports fell 1.0 percent m-o-m to $251.7 billion.
Year-to-date, the goods and services deficit declined 0.7 percent from the same period in 2018. Exports reduced less than 0.1 percent, while imports edged down 0.1 percent.
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