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U.S. Trade Deficit Narrowed Sharply in November as Global Demand Cooled
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The U.S. trade deficit shrank in November at the steepest monthly rate in nearly 14 years, adding to signs of a global economic slowdown through the holiday season amid high inflation and climbing interest rates.
America’s imports fell more than exports, causing the country’s deficit in trade of goods and services to narrow in November by 21% to a seasonally adjusted $61.51 billion, the Commerce Department said Thursday, compared with a $77.85 billion gap in October.
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