US trade deficit falls more sharply than expected in November
America's shortfall in trade with the rest of the world narrowed sharply in November on the back of a sharp drop in the country's purchases.
According to the Department of Commerce, the US foreign trade deficit shrank at a month-on-month pace of 8.2% to reach $43.1bn.
That was more than the improvement from -$47.2bn to -$44.5bn which economists had penciled-in.
In comparison with October, US exports increased at a month-on-month pace of 0.7% to $208.6bn, even as imports fell by 1.0% to $251.7bn.
The improvement was almost entire the result of a -$3.9bn decline in the deficit on foreign trade in goods, as exports rose by $1.0bn but imports dropped by $2.9bn, with declines in purchases of civilian aircraft figuring large in the latter.
South and Central American continued to sport the biggest trade deficits in goods versus the US, worth $4.9bn, while on the other side of the ledger, China's $25.6bn surplus was the largest.