Nov trade deficit narrows as goods imports fall sharply

Washington

AMERICA'S trade deficit shrank in November as a decline in imports exceeded a drop in the value of shipments abroad. New orders for factory goods also fell in the same month.

The trade gap narrowed 5 per cent to US$42.4 billion from a revised US$44.6 billion in October that was wider than previously estimated, the Commerce Department reported on Wednesday.

Imported merchandise, primarily consumer goods, decreased to the lowest level since February 2011 and is partly explained by the limited progress companies made getting inventories more in line with demand. At the same time, persistent dolla…