Trade Deficit Increases 4.7% for October

The U.S. international trade deficit worsened by 4.7% to $42.2 billion for October, according to a U.S. Department of Commerce report [link opens in PDF] released today.

October's exports came in at $180.5 billion, $6.8 billion less than in September. Likewise, imports were down $4.9 billion to $222.8 billion. Compared to October 2011, the overall trade deficit decreased by $3.5 billion. 

anImage

Source: U.S. Department of Commerce.

Although the deficit worsened, October's numbers beat analyst expectations by $600 million.

The lag in international trade stems from slowing goods trade, with the goods deficit increasing by $1.8 billion in October to $59.2 billion. The services deficit improved slightly by $100 million to $16.9 billion. 

After September's improvement, this newest report suggests the eurozone crisis and global economy continue to negatively affect U.S. business.


 

link

The article Trade Deficit Increases 4.7% for October originally appeared on Fool.com.

You can follow Justin Loiseau on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Markets

DJIA24,657.80-42.41-0.17%
NASDAQ7,781.5255.930.72%
NIKKEI 22522,693.04137.610.61%
HANG SENG29,296.05-400.12-1.35%
DAX12,585.11-110.05-0.87%
USD (per EUR)1.150.00-0.28%
USD (per CHF)1.000.00-0.03%
JPY (per USD)110.520.180.16%
GBP (per USD)1.320.000.33%
More to Explore