Trade Gap in U.S. Shrank in October on Record Exports

The trade deficit in the U.S. narrowed in October for the first time in four months as exports climbed to a record.

The gap decreased 5.4 percent to $40.6 billion from a $43 billion shortfall in September that was larger than previously estimated, the Commerce Department reported today in Washington. The median forecast in a Bloomberg survey of 63 economists called for a $40 billion deficit.