Moderate Reduction in Trade Deficit
The U.S. goods and services deficit witnessed a slight decrease in November, falling to $63.2 billion, a $1.3 billion drop from October’s revised figure. This change reflects subtle shifts in both export and import values.
Exports and Imports: A Closer Look
November saw a decrease in exports, totaling $253.7 billion, which was $4.8 billion less than October’s exports. Imports also declined to $316.9 billion, down by $6.1 billion from the previous month. The reduction in the goods deficit, alongside a rise in the services surplus, contributed to the overall deficit decrease.
Year-to-Date Trends and Moving Averages
Year-to-date, the goods and services deficit has decreased by 18.4 percent compared to the same period in 2022. This is attributed to a slight…
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