A lower value of the dollar has continued to improve the competitiveness of U.S. exports. That undoubtedly accentuated the decline in October's trade deficit to $32.9B. The decline followed a September deficit of $35.7, which was revised even lower than initial estimates given last month.
In more good news, exports jumped. It was their sixth straight month of increase. The latest figure was quite a bit lower than consensus expectations for a deficit of $37.0B.
But perhaps the best news in Thursday's report is that exports are benefiting from healthy demand abroad. Exports were led by a $1.2 billion up-tick in capital goods in October followed by gains in demand for consumer goods as well as automobiles.
Today's international trade report continues the string of evidence pointing to a strong Q4 GDP.
When all you read is gloom, turn here for a much different perspective.