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.
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.
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.
