U.S. Trade Deficit Narrows To $38.3 Billion in November

WASHINGTON — The U.S. international trade deficit narrowed for the third consecutive month in November, shrinking $100 million to a 10-month low of $38.3 billion, the Commerce Department reported Thursday.

Economists expected a $41 billion trade deficit in November. The October deficit was revised to $38.4 billion from $38.7 billion.

Exports continued to charge ahead, increasing $1.2 billion to $159.6 billion to post their third consecutive monthly gain. Exports of consumer goods and foods, feeds, and beverages hit record highs.

Imports increased $1.1 billion to $198 ­billion. Imports of foods, feeds, and ­beverages, and capital goods rose to record highs. Imports of advanced technology products increased for the third straight month.

“Net exports subtracted 1.7 percentage points from” GDP in 2010’s third quarter, said Steven Wood of Insight Economics. “These data suggest that net exports will add positively to 2010 [fourth-quarter] GDP.”

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