US trade deficit
The US trade deficit came in marginally lower in September, but still above $US50 billion. There’s some evidence that the appreciation against the euro over the last four years is finally having an effect, and the more recent decline of the dollar to record-low levels against the euro may have more. But the improvement also included some surprising features like a decline in the value of oil imports, unlikely to be repeated any time soon. As General Glut notes
September’s trade deficit was still the third largest in history. The four largest in history have all occurred over the past four months.
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