US Foreign Trade Deficit Narrowed in September

That was in line with the forecast of economists surveyed by MarketWatch.

Imports fell for the 1st time in 5-months. The dollar was stronger against a basket of currencies. Lower crude oil prices also helped to curb the import bill.

The US deficit with China rose 3.8 percent to an all-time high of $36.3 billion in September as imports from China hit a record.

Echo Entertainment Group Ltd plunged 6.3% to $4.80 after the casino, night club, restaurants and bars operator said revenues in the year ending in September jumped 19% from a year ago to $2.26 billion. Lacklustre global demand also has put a damper on exports.

Exports rose 1.6 % in Sep to $ 187.9 billion with service exports hitting record highs.

The Commerce Department pointed to notable increases in exports of consumer goods, including artwork, antiques, and stamps, and capital goods.

In-line with ADP’s report finding robust growth for the service sector, the Institute for Supply Management released a report showing that the service sector has seen 75 consecutive months of growth. The sharper decline in imports from China relative to the European Union has surprised many analysts, as total imports from both regions are comparable. Exports to Japan, however, fell 13.8% to their lowest level since April 2010.

But imports fell 1.8 percent to $228.7 billion, exclusively due to a drop in imports of goods such as industrial supplies, capital goods and automotive vehicles and parts. They had received a boost in August from Apple’s new iPhone model.

The value of exports this year was likely to be similar to the 2014 level, while imports may fall sharply, the ministry said. The decrease in the deficit reflected an increase in exports and a decrease in imports.

The price of petroleum averaged US$42.72 per barrel in September, down from US$49.33 in August and US$92.52 in September 2014.

The United States trade deficit for September month on month contracted to $40.8bn. Elsewhere non-monetary gold increased by $135 million (10%) while rural goods ticked higher by $43 million.