The US trade deficit in goods narrowed by 4.7 percent in September to reach $63.9 billion, as the world's largest economy showed a little recovery from the novel coronavirus pandemic, data from the Department of Commerce's Census Bureau showed
WASHINGTON (Pakistan Point News / Sputnik - 04th November, 2020) The US trade deficit in goods narrowed by 4.7 percent in September to reach $63.9 billion, as the world's largest economy showed a little recovery from the novel coronavirus pandemic, data from the Department of Commerce's Census Bureau showed.
Imports of foreign goods such as automobiles and consumer products grew by 0.5 percent in September, reaching $176.4 billion, but exports expanded by only 2.6 percent to $240.2 billion, narrowing the deficit, the data showed.
The US economy grew at a record pace of 33.1 percent in the third quarter of 2020 after the steepest ever drop of 31.4 percent in the previous three months and a 3.4 percent drop in the first quarter due to lockdowns forced by the novel coronavirus pandemic.
