US trade deficit dip little comfort to steel

Nov 08, 2007 | 07:59 PM | Rory Carroll

The U.S. trade deficit came in at $56.5 billion for September, down slightly from $56.8 billion in August and below analyst expectations.

The decline was attributed to lower-than-expected petroleum and automotive imports, as well as some increases in U.S. exports thanks, in part, to the weak U.S. dollar.

Nearly all of the rest was due to the continued trade deficit with China, which totaled $23.77 billion in September, up from $22.53 billion in August.

The numbers didn't reflect the recent surge in crude oil prices, and one economist predicted the deficit would head upward again in October and November.....

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