U.S. goods trade deficit contracts in September

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The United States' trade deficit in goods narrowed sharply in September as exports increased, sealing expectations for record economic growth in the third quarter, Reuters reports.

The report, citing the Commerce Department, notes that the goods trade deficit decreased 4.5% to $79.4 billion last month. Exports of goods rose $3.2 billion, while in imports fell $0.5 billion.