U.S. Trade Deficit Unexpectedly Narrows To $105.0 Billion In September
(RTTNews) - With exports increasing by more than imports, the Commerce Department released a report on Wednesday showing the U.S. trade deficit unexpectedly shrank in the month of September.
The Commerce Department said the trade deficit narrowed to $105.0 billion in September from a revised $105.7 billion in August.
Economists had expected the trade deficit to widen to $107.9 billion from the $105.6 billion originally reported for the previous month.
The decrease in the size of the trade deficit came as the value of exports surged by 1.9 percent to $321.5 billion, while the value of imports jumped by 1.2 percent to $426.6 billion.
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U.S. Manufacturing Index Increases More Than Expected In October
The Institute for Supply Management released a report on Monday showing its reading on U.S. manufacturing activity increased by more than expected in the month of October. The ISM said its manufacturing PMI rose to 55.5 in October after edging down to 54.5 in September, with a reading above 50 indicating growth. Economists had expected the index to inch up to 54.6.
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Chicago Business Barometer Pulls Back But Still Indicates Growth In October
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