US Trade Deficit Narrows to $41.5 Billion

10:42 AM, Nov 8, 2012   |    comments
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WASHINGTON (AP) - The U.S. trade deficit declined to the lowest level in almost two years as exports rose to a record high, a gain that is not expected to last given the global economic slowdown.

The Commerce Department says the trade deficit narrowed to $41.5 billion in September. That is 5.1 percent below the August deficit and the smallest imbalance since December 2010.

Exports climbed 3.1 percent to an all-time high of $187 billion, reflecting stronger sales of commercial aircraft, heavy machinery and farm goods. Imports were also up, rising 1.5 percent to $228.5 billion, reflecting a jump in shipments of consumer goods from cell phones to clothing and toys.

The U.S. deficit with China increased to $29.1 billion in September and is running 6.8 percent ahead of last year's record pace.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

 

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