Tuesday, December 12, 2006

Forex News: 12.12.2006 U.S. trade gap narrows in October

The U.S. trade deficit narrowed by 8.4% in October to $58.9 billion. The trade gap is at its lowest level since August 2005.

The narrowing of the deficit was the largest since December 2001. The trade deficit was well below the forecast of economists of a deficit of $63.1 billion.

Exports rose to a new record in October, while imports fell by the largest amount in almost five years. Despite the improvement, the U.S. trade deficit with China widened to a record $24.4 billion in October compared with $23.0 billion in September.


Post a Comment

<< Home