US posts smallest trade deficit since 2009

• Prior was a deficit of $52.8B (revised to -48.1B)
• Goods trade balance -58.57B vs -77.69B prior

You will see some big Q3 GDP forecast upgrades with this data.

We also got the Q3 US productivity report and it was a big beat with productivity up 4.9% compared to 3.0% expected. The prior quarter was also revised to 4.1% from 2.4%. Unit labor costs fell 1.9% compared to +1.0% expected.

Canadian trade balance for October:

• Balance -0.58B vs -1.36B expected
• Exports 65.61B vs 64.23B prior
• Imports 66.19B vs 64.08B prior

These numbers were both badly delayed by the US government shutdown.

This article was written by Adam Button at investinglive.com.