US Trade Deficit Unexpectedly Shrinks to Smallest Since 2020 (1)

The US trade deficit unexpectedly narrowed in September to the smallest since mid-2020 as exports surged.

The goods and services trade gap shrank nearly 11% from the prior month to $52.8 billion, Commerce Department data showed Thursday. The median estimate in a Bloomberg survey of economists was for a $63.1 billion deficit.

The value of US exports rose 3% to the second-highest level on record, fueled by non-monetary gold and pharmaceutical preparations. Imports increased a more modest 0.6%. The figures aren’t adjusted for inflation.

WATCH: US Initial claims increased by 44,000 to 236,000 in the week ended Dec. 6, while the September US trade deficit unexpectedly narrowed to the smallest since mid-2020. Michael McKee reports.

Source: Bloomberg

Large monthly swings in trade this year related to US implementation of tariffs have introduced ...