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Trade Deficit Narrows, Raising Q4 GDP Expectations
January 7, 2020
The U.S. trade deficit fell more than expected in November, falling to $43.09 billion, below the economist forecast of $43.6 billion. This was down substantially from October’s $46.9 billion, and is the smallest the trade deficit has been since October 2016.
The important trade deficit with China fell by $2.2 billion to $25.6 billion in November, owing to a large increase in exports and a decline in imports.
The numbers have eased concerns that GDP would see a significant slowdown in the fourth quarter.
