U.S. exports up for sixth month

Trade deficit lower in October; analysts cite fall in oil imports

By The Associated Press

Photo by The Associated Press

A farmer harvests corn last month near Waverly, Ill. Strength in farm exports helped narrow the nation’s trade deficit in October.

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WASHINGTON — The economic recovery is likely to draw strength from exports such as farm products, autos, aircraft and industrial machinery - all of which helped lower the nation’s trade deficit in October.

Exports of U.S. goods rose for a sixth-straight month. Further gains in exports should bolster manufacturers, who struggled during the recession. Heavy-equipment maker Caterpillar Inc., for instance, has predicted that its sales will rise next year,reflecting in part greater demand from China and other Asian markets.

Economists noted that much of the improvement in the trade gap reflected a fall in oil imports. But David Resler, chief economist at Nomura Securities, said U.S. exporters are benefiting from growing economies overseas and a weaker dollar. A ...

Business, Pages 31 on 12/11/2009

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