The U.S. trade deficit unexpectedly narrowed in September, touching the lowest level in more than five years, as exports accelerated and imports rose marginally, suggesting that trade likely provided a boost to economic growth in the third quarter.
The trade gap contracted 10.9% to $52.8 billion, the lowest level since June 2020, the Commerce Department’s Bureau of Economic Analysis and Census Bureau said on Thursday. Economists polled by Reuters had forecast the trade deficit increasing to $63.3 billion.
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