In October, U.S. exports hit a record high, causing trade deficits with Europe and China to shrink to an unusually low point, according to a new report from the Bureau of Labor Statistics.
The report indicated that U.S. exports grew by $16.8 billion in October, while imports only grew by $2.5 billion, narrowing the trade deficit to its lowest point since last January, offsetting several alarming months of trade deficit growth in the summer and autumn.
