“Unexpectedly” was the word of the day Thursday for media reporting on Commerce Department numbers showing that the U.S. goods and services trade deficit fell in September to the lowest monthly level since June of 2020.
According to the Commerce Department report issued Thursday, the trade deficit shrank 10.9% from August, thanks to a 3.0% increase in exports dwarfing a much smaller 0.6% rise in imports. Analysts had predicted that the September trade deficit would grow to between $62.5-63.5 billion.
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