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U.S. Trade Gap Narrowed in September
 Falling Dollar Spurs Foreigners to Buy American, Pushing Exports to Record Level WASHINGTON (AP) -- The U.S. trade deficit fell to the lowest level in 28 months as a falling dollar spurred U.S. exports to an all-time high. The deficit with China jumped to the second highest level on record as imports of toys and other goods surged despite a rash of safety recalls. The Commerce Department said Friday that the deficit for September dipped by 0.6 percent from the previous month -- to $56.5 billion. That was the narrowest trade imbalance since May 2005 and took economists by surprise. They had been forecasting the deficit would rise. The improvement came from a 1.1 percent jump in U.S. exports, which climbed to a record $140.1 billion. The dollars' decline against many major currencies has made U.S. goods cheaper and more competitive in foreign markets. For September, sales of American-made cars, computers and farm products including corn, cotton, wheat and soybeans were all up. Posted by: Delphi 2007-11-09 |
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