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Trade gap narrows slightly in October

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Trade gap narrows slightly in October

Reduced gap lower than expected.

The Department of Commerce announced today that the nation’s international trade deficit in goods and services decreased to $43.4 billion in October from $43.6 billion in September. 

Analysts had expected a deficit of $41.4 billion.

Exports of goods increased $2.0 billion to $138.0 billion in October. Capital goods increased $1.7 billion, led by increases in civilian aircraft ($1.0 billion), and generators, transformers, and accessories ($0.3 billion).

Exports of services increased $0.3 billion to $59.5 billion in October. The increase reflected increases in financial services ($0.1 billion), in maintenance and repair services ($0.1 billion), and in charges for the use of intellectual property ($0.1 billion). 

For the full report, click here.

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