The trade deficit narrowed to $40.6bn in October, from $43.0bn, but that decline only partly reversed the widening in September. Looking through the month-to-month volatility, the trade deficit continues to trend gradually lower, largely because surging domestic crude oil production means the US is less reliant on imported oil.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.