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Tue Dec 7, 2021, 03:16 PM

US trade deficit narrows in October as exports rebound

Source: AP

By MARTIN CRUTSINGER

WASHINGTON (AP) — The U.S. trade deficit narrowed to $67.1 billion in October, the lowest in six months, after hitting a record high in September. A big rebound in exports helped to offset a much smaller rise in imports.

The October deficit was 17.6% below the all-time peak in September of $81.4 billion, the Commerce Department reported Tuesday. It was the smallest monthly deficit since a $66.2 billion imbalance in April.

The strong rebound in exports is seen by economists as evidence of global supply chains beginning to untangle, and they believe smaller deficits this quarter could give a solid boost to overall U.S. economic growth.

There were gains in numerous export categories, suggesting that a recovering global economy is beginning to boost demand for U.S. products. Americans’ demand for imports had been racing ahead of export sales as the U.S. economy recovered more quickly than other countries from the pandemic.



In this April 9, 2021 photo, cargo containers are shown stacked near cranes at PortMiami in Miami. The U.S. trade deficit narrowed to $67.1 billion in October, after hitting a record high the previous month, as a big rebound in exports helped to offset a much smaller rise in imports. The October deficit was 17.6% below the September record of $81.4 billion, the Commerce Department reported Tuesday, Dec. 7, 2021. (AP Photo/Wilfredo Lee, file)


Read more: https://apnews.com/article/business-united-states-global-trade-d73b5fbff423676ed1770bdb702625c4

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Reply US trade deficit narrows in October as exports rebound (Original post)
Omaha Steve Dec 7 OP
IronLionZion Dec 7 #1

Response to Omaha Steve (Original post)

Tue Dec 7, 2021, 03:26 PM

1. Biden is killing jobs

oh wait...

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