US trade deficit narrows in October as exports rebound

By MARTIN CRUTSINGER
AP Economics Writer

WASHINGTON (AP) — The U.S. trade deficit narrowed to $67.1 billion 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% below the September record of $81.4 billion, the Commerce Department reported Tuesday. It was the smallest monthly deficit since a $66.2 billion imbalance in April. Analysts viewed the strong rise in exports as evidence that global supply chains were beginning to unsnarl and said smaller deficits this quarter could give a solid boost to overall U.S. economic growth. In October, exports rose 8.1% to $223.6 billion while imports were up a much smaller 0.9% to $290.7 billion.