Posted AT 8:58 AM EST on 13/11/08
U.S. trade deficit narrows to $56.5-billion
WASHINGTON — A record decline in the price of crude oil helped to push the U.S. trade deficit down to the lowest level in nearly a year even though the deficit with China shot up to an all-time high.
The Commerce Department reported Thursday that the trade deficit fell by 4.4 per cent to $56.5-billion (U.S.) in September, the smallest imbalance since October 2007.
The better-than-expected improvement reflected a 15.
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