US Trade Deficit Shrinks For First Time Since July

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by Tyler Durden
Tuesday, Dec 07, 2021 - 01:41 PM

The US trade deficit shrank in October for the first time since July.

The gap in trade of goods and services shrank 17% to $67.1 billion, from a revised $81.4 billion in September which was a record deficit (and in line with expectations)...

Ex-Petroleum, the trade-deficit hit a new record high (or low)...

The US-China trade deficit shrank from $36 billion to $31 billion in October (but of course, it depends on whether you follow US data or Chinese data)...

This all reflects a sharp increase in exports and suggests that foreign demand for goods is on the rise... another reason for Powell to take his foot off the monetary policy accelerator.