Your Economy (No Politics)

[Bullwinkle]

October's trade deficit increases


WASHINGTON, Dec. 14 (UPI) -- A big jump in imported industrial supplies and materials in October hiked the U.S. balance of trade deficit for the month to a record $68.9 billion.

Economists had expected the deficit to range from $60 billion to $63 billion.

The Commerce Department Wednesday said October exports were $107.5 billion and imports $176.4 billion, for a monthly deficit that was $2.9 billion more than the $66 billion in September.

Much of the 4.4 percent growth in October's trade deficit stemmed from imports of industrial supplies and materials, which rose by $3.5 billion from September and $12.5 billion from October 2004, the department said. Specifically, import records were set for automotive vehicles, parts, and engines as well as petroleum.

Exports in October increased $1.8 billion to $75.2 billion.


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