US Trade Deficit Narrows From a More Than Two-Year High
- Gap in goods and services trade shrank almost 12% in October
- Decline in merchandise imports was broad across categories
A tractor-trailer truck arrives at the Port of Baltimore in Maryland.
Photographer: Al Drago/BloombergThis article is for subscribers only.
The US trade deficit narrowed in October from a more than two-year high as companies dialed back imports of consumer goods and business equipment.
The nation’s goods and services trade gap shrank nearly 12% from the prior month to $73.8 billion, Commerce Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for a $75 billion shortfall.