US October Trade Deficit Falls to $29.4 Billion, Smallest Since June 2009
According to the latest data, the U.S. trade gap narrowed sharply in October, far beating expectations, as the prior month’s deficit was revised lower.
Summary
The U.S. October trade deficit declined to $29.4 billion, the smallest since June 2009, versus a forecast of $58.9 billion. The prior figure was revised to $48.1 billion from $52.8 billion. The update indicates a significantly stronger trade balance than anticipated.
Terms & Concepts
- Trade Deficit: The amount by which a country's imports exceed its exports over a given period.