US Trade Deficit Narrows Unexpectedly In November

The US trade deficit narrowed unexpectedly to $63.2 billion in November last year, said the Commerce Department (Credit: AFP)

The US trade gap narrowed in November as imports and exports both fell while higher interest rates bite, the government reported Tuesday.

Although analysts expected the trade deficit to widen slightly, the gap was smaller than anticipated at $63.2 billion, down from a revised October figure of $64.5 billion, the Commerce Department said.