(Reuters) – The U.S. trade deficit fell to its lowest level in four years in November as exports hit a record high and weak oil prices held down the import bill, the latest evidence of strengthening economic fundamentals.

Tuesday’s report left economists anticipating a far stronger growth pace for the fourth-quarter than previously expected, with some predicting trade could contribute as much as a full percentage point to output during the period.

“The report should dispel worries that fourth quarter growth will be really weak,” said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania. “It may not be robust, but should set us up for even better growth this year.”  Read more