US trade deficit unexpectedly shrinks

The United States trade deficit unexpectedly shrank in November, as services exports soared and merchandise imports decline, Bloomberg reported on Tuesday.

The deficit in goods and services trade slipped by two per cent in comparison to the month before to reach $63.2 billion, Commerce Department data showed on Tuesday.

A Bloomberg survey showed that the median estimate called for a $64.9 billion gap.

The value of imports and exports each decreased by 1.9 per cent.