the numbers the nation’s trade deficit shrank 21 in november to a more than twoyear low of 615 billion largely due to fewer imports of consumers goods and cheaper oil economists polled by the wall street journal had forecast a 631 billion shortfall the size of the deficit in november was the smallest since september 2020 the deficit narrowed from 778 billion in october the government said thursday lower trade deficits add to gross domestic product the official scorecard for the economy key details imports tumbled 64 to a 11month low of 3134 billion americans are spending more of their money on services instead of goods partly explaining the decline the cost of oil has also fallen exports slid a smaller 2 to 2519 billion retreating again from a record high in august slower economic growth in other countries and a strong dollar that’s made american goods and services more expensive have put a dent in exports big picture massive swings in the us trade deficit this year haver masked steady growth in the economy gdp turned negative in the first quarter for instance and rebounded sharply in the third quarter large because of the trade deficit what the falling trade gap is signaling now however is somewhat slower us and global growth in the months ahead american consumers have trimmed their spending for one thing and that’s partly why imports have declined and us businesses can’t export as much because of weak demand in other countries market reaction the dow jones industrial average djia and sp 500 spx were set to open lower in thursday trades