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Thursday, Jun 1, 2023

Trade deficit drops to lowest level since ’03

WASHINGTON — The trade deficit plunged to the lowest level in five years in November as a deepening recession slashed demand for oil by a record amount. Imports from China also fell by the largest amount on record. The Commerce Department reported Tuesday that the trade deficit narrowed to $40.4 billion in November, a 28.7 percent decline from October’s deficit of $56.7 billion. The bigger-than-expected decrease left the deficit at its lowest level since November 2003. For the full story click here

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