The U.S. Commerce Department reported on Tuesday U.S. the goods trade deficit narrowed to $66.53 billion in October from $70.55 billion in the previous month.

Economists had expected a deficit of $71.30 billion.

According to the report, goods exports declined 0.7 percent pulled down by drops in sales of consumer goods (-4.0 percent), foods, feeds & beverages (-3.0 percent), and vehicles (-2.4 percent). Meanwhile, goods imports fell 2.4 percent due to decreases in purchases of vehicles (-5.9 percent), consumer goods (-4.8 percent), foods, feeds & beverages (-2.9 percent), and industrial supplies (-1.9 percent).