Trade Gap Declines in October

The U.S. trade deficit narrowed in October, declining 7.6% from September, the Commerce Department said Thursday.

The gap between imports and exports closed to $32.9 billion, from a revised $35.7 billion in September, Commerce said.

Economists had forecast the deficit would widen to $36.8 billion from an initially reported $36.5 billion, Bloomberg reported.

Imports rose 0.4% to $169.8 billion. Exports rose to $136.8 billion, reflecting increased demand for U.S. semiconductors, aircraft and automobiles, Bloomberg reported.