The nominal trade deficit narrowed slightly to $43.4 billion as exports outpaced imports growth. October’s increase in exports mostly reflected higher exports of capital goods. On the imports side, increases in imports of autos and capital goods were in part offset by a decline in imports of consumer goods.
On a year-over-year basis, growth of both exports and imports remained lackluster in October, having stabilized at a low level during the past two years compared to recent history (excluding plunges in international trade during past recessions).
