How can this be? US September trade deficit lowest in more than five years as goods exports soar.
This from Reuters.
The U.S. trade deficit unexpectedly narrowed in September, touching the lowest level in more than five years, as exports accelerated and imports rose marginally, suggesting that trade likely provided a boost to economic growth in the third quarter.
The trade gap contracted 10.9% to $52.8 billion, the lowest level since June 2020, the Commerce Department’s Bureau of Economic Analysis and Census Bureau said on Thursday.
Economists polled by Reuters had forecast the trade deficit increasing to $63.3 billion.
