US trade deficit narrows in October as exports jump

The United States trade deficit narrowed to $67.1bn in October, the lowest in six months, after hitting a record high in September. A big rebound in exports helped to offset a much smaller rise in imports.

The October deficit was 17.6 percent below the all-time peak in September of $81.4bn, the Commerce Department reported on Tuesday. It was the smallest monthly deficit since a $66.2bn imbalance in April.

The strong rebound in exports is seen by economists as evidence of global supply chains beginning to untangle, and they believe smaller deficits this quarter could give a solid boost to overall US economic growth.

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