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U.S. Trade Deficit Narrows in October

12/9/2011 9:00:00 AM
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The U.S. trade deficit narrowed by 1.6% in October, shrinking to its lowest level of the year, the Commerce Department said Friday.

The gap between imports and exports declined to $43.5 billion, from a revised $44.2 billion in September that was higher than originally reported, Commerce figures showed.

Economists had projected the deficit would widen to $43.9 billion from the previously estimated $43.1 billion in September, Bloomberg reported.

Exports decreased 2.2% to $179.2 billion as gold shipments dropped. Sales of capital goods and petroleum products rose to record levels, Bloomberg said.

Imports declined 1% to $222.6 billion, the lowest since April, as demand for oil dropped to $26 billion from $28.3 billion, Bloomberg said.

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U.S. Trade Deficit Narrows in October (12/9/2011 9:00:00 AM)
U.S. Trade Deficit Narrows; Exports Hit Record (11/10/2011 9:00:00 AM)
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U.S. Trade Deficit Unchanged in August (10/13/2011 8:50:00 AM)
U.S. Trade Deficit Narrows 13.1% (9/8/2011 9:50:00 AM)
Trade Deficit Expands to $53.1 Billion (8/11/2011 9:30:00 AM)

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