US Trade Deficit Surges Near Five Year High Despite Sliding Dollar | WHAT REALLY HAPPENED


US Trade Deficit Surges Near Five Year High Despite Sliding Dollar

The US trade balance surprisingly blew out in October, increasing from $44.9 billion to $48.7 billion, as unexpectedly exports decreased and imports increased despite the ongoing dollar weakness, missing estimates of $47.5 billion. October's number was tied for the widest deficit going back to early 2012...

... and marks a stark divergence with the recent dollar weakness which would suggest an improvement in US trade data.

Broken down by components, the goods deficit increased $3.8 billion in October to $69.1 billion. The services surplus decreased less than $0.1 billion in October to $20.3 billion.

Exports of goods and services decreased less than $0.1 billion, or less than 0.1 percent, in October to $195.9 billion. Exports of goods decreased $0.3 billion and exports of services increased $0.3 billion.

The decrease in exports of goods mostly reflected decreases in foods, feeds, and beverages ($1.3 billion) and in capital goods ($1.2 billion). An increase in industrial supplies and materials ($2.6 billion) partly offset the decreases.
The increase in exports of services mostly reflected increases in financial services ($0.1 billion) and in other business services ($0.1 billion), which includes research and development services; professional and management services; and technical, trade?related, and other services.
Imports of goods and services increased $3.8 billion, or 1.6 percent, in October to $244.6 billion. Imports of goods increased $3.5 billion and imports of services increased $0.3 billion.

The increase in imports of goods mostly reflected increases in industrial supplies and materials ($1.8 billion), in other goods ($1.1 billion), and in consumer goods ($0.8 billion).

The increase in imports of services mostly reflected an increase in transport ($0.3 billion).

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