US trade gap narrows unexpectedly as exports surge

[pampango]

Source: BBC

The US trade deficit unexpectedly narrowed in October as exports rose to their highest level in almost a year, official figures have shown.

The deficit fell to $32.9bn (£20.2bn), 7.6% lower than September's downwardly revised $35.7bn figure. Helped by the weaker value of the dollar, US exports increased by 2.6% to $136.8bn, led by civilian aircraft, cars and computer chips.

Imports rose 0.4% to $169.8bn. Analysts had expected the deficit to widen. On average, analysts had predicted the deficit to expand to $36.8bn.

The value of US exports was the highest since November 2008.

Read more: http://news.bbc.co.uk/2/hi/business/8406301.stm

[madrchsod]

1. the wonders of the cheap dollar

[WriteDown]

2. Exactly!

Few see the benefits of a weak dollar, but this is the huge one.

[FBaggins]

3. It almost certainly will boost GDP as well. n/t