By Mark Memmott
"The U.S. trade deficit unexpectedly narrowed in August as exports posted a small gain and imports fell on a big drop in demand for foreign oil," the Associated Press writes.
The wire service adds that:
The Commerce Department says the trade deficit declined 3.5% to $30.7 billion, surprising economists who had expected higher oil prices to push the imbalance to $33 billion. Oil prices did shoot up, but the volume of shipments dropped sharply in August.
Commerce has posted its report here.
Planet Money follows the economy's ups and downs.