Most predictions had been for a December deficit of at least $13 billion, and the financial markets strengthened when the report came out.
Indeed, analysts say the painful retrenchment is preparing the industry to grow again when the American economy and its financial markets strengthen.
"Germany has rolled the dice and their market didn't strengthen."
Even as the market strengthens, however, there continue to be mixed signals about the prospects for corporate earnings.
He said foreign investors were likely to buy Treasury bonds as the market strengthened, raising demand for dollars.
But whether that will continue as the market strengthens remains uncertain.
Since 2003, the exports of natural resources started decreasing in economic importance as the internal market strengthened considerably.
Open markets will strengthen Europe and allow it to tackle its problems.
As liberals we are of course very glad to see the single market strengthened.
Even if the market strengthens, you won't see massive conversions again.