America Shrinks Trade Gap As Exports Rise

The U.S. trade deficit unexpectedly narrowed 5% to $41.6 billion from August to September the lowest level in almost two years, the Dept. of Commerce reports.

Exports grew 3% to an all-time high of $187 billion, double the rate of increase for imports, which reached $228.5 billion.

U.S. exports of autos and parts slid 2% to $11.9 billion in September. Imports dropped 3% to $24.5 billion.

Economists say the strong overall trade numbers may result in an increase in the estimate of third-quarter economic growth from the 2% annual rate of expansion reported last month.

America's trade gap with China widened to $29.1 billion in September from $28.7 billion in August.

In the first nine months of 2012, U.S. trade with all countries is on pace for a $554 billion deficit compared with $559.9 billion last year.