Financial News: U.S. Trade Deficit Narrows Slightly More Than Expected

U.S. Trade Deficit Narrows Slightly More Than Expected In October

12/05/2024 - 08:44:00 (RTTNews)

(RTTNews) - Reflecting a steep drop by the value of imports, the Commerce Department released a report on Thursday showing the U.S. trade deficit narrowed by slightly more than expected in the month of October.

The Commerce Department said the trade deficit shrank to $73.8 billion in October from a revised $83.8 billion in September.

Economists had expected the trade deficit to decrease to $75.0 billion from the $84.4 billion originally reported for the previous month.

The narrower trade deficit came as the value of imports tumbled by 4.0 percent to $339.6 billion, although the value of exports also slumped by 1.6 percent to $265.7 billion.

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