Widget Image
Follow PPD Social Media
Friday, November 22, 2024
HomeNewsEconomyU.S. Trade in Goods Deficit Narrowed Unexpectedly in November

U.S. Trade in Goods Deficit Narrowed Unexpectedly in November

Import, Export, Logistics concept - Map global partner connection of Container Cargo freight ship for Logistic Import Export background (Photo: AdobeStock/Elements of this image furnished by NASA)
Import, Export, Logistics concept - Map global partner connection of Container Cargo freight ship for Logistic Import Export background (Photo: AdobeStock/Elements of this image furnished by NASA)
Import, Export, Logistics concept – Map global partner connection of Container Cargo freight ship for Logistic Import Export background (Photo: AdobeStock/Elements of this image furnished by NASA)

The U.S. trade in goods deficit unexpectedly narrowed to $63.2 billion in November, down 5.4% or $3.6 billion from $66.8 billion in October. Exports of goods were up $0.9 billion to $136.4 billion, while imports of goods were down $2.7 billion to $199.6 billion.

Forecasts ranged from a low of $-70.0 billion to a high of $-65.0 billion. The consensus forecast was calling for a widening to $-69.5 billion.

In October, the overall U.S. trade deficit—or, the balance for goods and services—narrowed to only $47.2 billion. Depending on services for November, the decline in the goods deficit could provide a boost to quarterly gross domestic product (GDP).

Written by

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

No comments

leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

People's Pundit Daily
You have %%pigeonMeterAvailable%% free %%pigeonCopyPage%% remaining this month. Get unlimited access and support reader-funded, independent data journalism.

Start a 14-day free trial now. Pay later!

Start Trial