Washington, DC, November 9, 2006--The trade deficit narrowed by 6.8% in September to $64.3 billion, the Commerce Department said Thursday.
This is the largest narrowing of the trade deficit since December 2004.
The trade gap is at its lowest level since April. The trade deficit was below the consensus forecast of Wall Street economists of a deficit of $66.3 billion.
Exports rose to a new record high while imports declined for the first time in seven months. Despite the improvemeent, the U.S. trade deficit with China widened to a record $23.0 billion in compared with $20.1 billion in the same month last year.
