Falling oil, record exports shrink trade gapLower oil prices take trade gap down far below forecasts.NEW YORK (CNNMoney.com) -- The trade gap fell on lower oil prices and record exports in September, according to a government report Thursday, coming in well below Wall Street forecasts. Imports outstripped exports by $64.3 billion, according to the Commerce Department, down from the revised $69.0 billion gap for August. The original reading for August of $69.9 billion had been the previous record.
Economists surveyed by Briefing.com had forecast the gap to fall to $66.0 billion in September, on lower oil prices and strong demand for U.S. exports. Who's winning the competition between Chinese and U.S. factories? |
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