The value of US exports rose 3% to the second-highest level on record, fueled by non-monetary gold and pharmaceutical preparations (Image source: Bloomberg) Show Quick Read Summary is AI Generated. Newsroom Reviewed

The US trade deficit unexpectedly narrowed in September to the smallest since mid-2020 as exports surged.

The goods and services trade gap shrank nearly 11% from the prior month to $52.8 billion, Commerce Department data showed Thursday. The median estimate in a Bloomberg survey of economists was for a $63.1 billion deficit.

The value of US exports rose 3% to the second-highest level on record, fueled by non-monetary gold and pharmaceutical preparations. Imports increased a more modest 0.6%. The figures aren’t adjusted for inflation.

Large monthly swings in trade this

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