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Sunday, September 20, 2020
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
Staff Writing Group

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.

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