In addition to falling oil prices, slowing world growth appeared to impact trade flows in late summer and early fall, resulting in a $56.5 billion deficit in the U.S. September trade balance, its best showing since October 2007.
September marked a second monthly narrowing in the trade gap as imports plunged $12.5 billion on the back of a $8.3 billion decline in oil and related items, a $1.6 billion dip in pharmaceuticals, a $732 million retrenchment in autos, and a $1.4 billion reversal in household goods and apparel.
Exports fell $9.9 billion, as oil and related items declined $4.3 billion, foods posted down $1.1 billion, civilian aircraft fell $3.3 billion — likely because the strike at Boeing Corp. halted deliveries — and oil equipment printed off $600 million.
— Market News International
