FAST FIVE: US Trade Deficit Shrinks To Smallest In 16 Months
US Trade Deficit Shrinks To Smallest In 16 Months The US trade deficit shrank to its smallest since June 2018 in October, as trade with China extended its slide with goods imports from the nation dropping to a fresh three-year low.
The overall US deficit in goods and services trade narrowed to $47.2 billion in October (less then the $48.5bn expected).
Source: Bloomberg Merchandise imports from China declined 4.8% from the prior month to $35.3 billion.
Source: Bloomberg …while exports tumbled 17% to $7.49 billion, the least in almost a year Source: Bloomberg Perhaps most notably: US OCT.
SOYBEAN EXPORTS FALL 42% M/M TO $1.11 BLN Finally, as Bloomberg notes, the report showed exports and imports both dropped and gave a hint of the impact of trade on fourth-quarter gross domestic product.