WASHINGTON (dpa-AFX) - The Commerce Department released a report on Tuesday showing the U.S. trade deficit narrowed significantly in the month of October amid a spike in the value of exports.
The report said the trade deficit decreased to $67.1 billion in October from a revised $81.4 billion in September. Economists had expected the deficit to narrow to $67.5 billion from the $80.9 billion originally reported for the previous month.
The narrower trade deficit came as the value of exports soared by 8.1 percent to $223.6 billion, while the value of imports climbed by 0.9 percent to $290.7 billion.
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