The U.S. trade deficit surpassed analyst expectations in October, rising 17.8 percent month-over-month to $42.6 billion, as exports weakened amid higher imports.
The U.S. Commerce Department said Tuesday the nation’s goods and services deficit for October totaled $42.6 billion, a 17.8 percent increase from September, as exports weakened amid higher imports.
The U.S. trade deficit for October was higher than analyst expectations, with economists polled by the Wall Street Journal expecting a trade gap of $42.1 billion, while economists surveyed by Reuters projected a $41.8 billion trade gap.
During the month, U.S. exports totaled $186.4 billion, down 1.8 percent from September, while the nation’s imports ticked up 1.3 percent from September to $229 billion.
On a year-to-date basis, the U.S. trade deficit has actually decreased 2.1 percent from the corresponding period in 2015.
U.S. trade deficit widens in October
