An early look at trade patterns in October showed a 1.3% widening in the U.S. goods deficit – to $77.2 billion from a revised $76.3 billion in September, the Commerce Department said Wednesday. Economists were looking for the deficit to widen to $77.7 billion. Exports declined in October while imports rose at a slightly faster pace.
The widening of the deficit in goods points to a larger U.S. trade deficit in October. Also, the government’s advanced report on wholesale inventories found a 0.7% increase in October. And advanced retail inventories rose 0.9% in the month.
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