The U.S. trade deficit on goods narrowed sharply to $63.19 billion in November 2019 from $66.8 billion in the previous month and well below market expectations of $68.75 billion.
Figures released by the U.S. Census Bureau also showed that that was the smallest trade gap since December 2016, as exports rose 0.7%, boosted by a 3.4% climb in sales of vehicles, a jump of 2.6% in consumer goods, improvement of 1.3% in capital goods, and a 2% hike foods, feeds, and a similar 2% jump in beverages.
Meanwhile, the bureau reported declines in exports of industrial supplies (0.7%) and other goods 7.3%. Imports dropped 1.3% as purchases declined for consumer goods (2.2%), capital goods (2%), industrial supplies (1.5%), foods, feeds, & beverages (1.3%), and other goods (6.8%).
