US Goods-Trade Deficit Narrows to Smallest in Nearly Two Years
(Bloomberg) -- The US merchandise-trade deficit narrowed in November to the smallest since December 2020 due to a plunge in imports.
The shortfall decreased 15.6% — the most since 2009 — to $83.3 billion last month, Commerce Department data showed Tuesday. The figures, which aren’t adjusted for inflation, compared with a median estimate for a gap of $96.3 billion in a Bloomberg survey of economists.
Imports retreated 7.6% to $252.2 billion, the lowest in more than a year. The value of exports declined 3.1% to $168.9 billion.
The decline in imports was broad based, led by a 13% drop in the value of consumer goods. Other inbound shipments of autos, food and beverages and industrial supplies also decreased, as did most export categories.
https://www.msn.com/en-us/money/markets/us-goods-trade-deficit-narrows-to-smallest-in-nearly-two-years/ar-AA15I0LV
Thank you Dark Brandon.