US Trade Deficit Unexpectedly Narrows to $105.0 Billion in September

The US international trade deficit unexpectedly narrowed to $105.0 billion in September, beating consensus expectations of a widening gap between $107.9 billion and $108.0 billion. The deficit improved from an upwardly revised $105.7 billion in August as outbound shipments outpaced inbound goods. Total exports surged 1.9% to $321.5 billion, while imports increased 1.2% to $426.6 billion, aided by a jump in capital goods imports to $157.97 billion. However, the bilateral deficit with China expanded to $21.87 billion. The narrower shortfall is expected to support third-quarter gross domestic product tracking estimates.