Alex Kowalski
Bloomberg
June 9, 2011
The U.S. trade deficit unexpectedly narrowed in April reflecting a plunge in auto and oil imports combined with record exports.
The gap shrank 6.7 percent to $43.7 billion, the lowest since December, Commerce Department figures showed today in Washington. Purchases of goods from Japan dropped by a record $3 billion in the aftermath of the earthquake and tsunami.
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A 9.9 percent drop in the dollar over the past 12 months will probably keep boosting overseas sales at manufacturers like Dow Chemical Co. (DOW) The improving trade picture may help offset slowdowns in consumer spending and auto production, preventing the world’s largest economy from cooling further.
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