US trade deficit drops in October to lowest level in more than a year

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Cargo ships sit docked at the Port of Savannah in Georgia

Ty Wright | Bloomberg | Getty Images

The U.S. trade deficit fell in October to its lowest level in more than a year as exports and imports both slid for the month, the Commerce Department said Thursday.

The deficit tumbled 7.6% to $47.2 billion from a revised print of $51.1 billion for September. Economists polled by Dow Jones expected the U.S. trade deficit to narrow to $48.5 billion in October.

Imports dropped…



Source cnbc.com

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