US Trade Deficit Narrows to $41.5 Billion
Lowest in two years but not expected to last
The U.S. trade deficit declined to the lowest level in nearly two years because exports rose to a record high. The gain may not last given the global economic slowdown.
Still, the narrower trade deficit could lead the government to revise its July-September economic growth estimate slightly higher than the 2 percent annual rate reported last month. That's because U.S. companies earned more from overseas sales while consumers and businesses spent less on foreign products.