US Trade Deficit Falls to Lowest Level in 17 Years.
If CBS and the rest of the media is correct, The overall trade gap plunged 39% to $29.4 billion in October, as imports fell by 3.2%, Department of Commerce figures show. The deficit was significantly lower than the $58.4 billion median forecast from surveys of economists by Dow Jones Newswires and The Wall Street Journal.
More good news. U.S. exports rose by $7.8 billion in October to $302 billion, imports dropped by $11 billion to $331.4 billion. The U.S. trade deficit in September was $48.1 billion.
“Swings in trade of gold and pharmaceuticals were behind the plunge in the trade deficit to a two-decade low in October, though higher computer imports suggest there are genuine signs of strength elsewhere in the economy amid the AI buildout,” Bradley Saunders, North America economist with Capital Economics, said in a report.














