Trade Deficit Hits Record in October

The Financial Times reports that the US trade deficit hit a new high in October, "confounding Wall Street expectations forecasts that it would fall and suggesting trade will be a bigger-than-expected drag on economic growth in the fourth quarter." The deficit, at $68.9 billion, surpassed the September record of $66 billion, even though energy prices declined in the interim. The trade deficit with China continues to grow, and the dollar fell against the yen. Not everyone is concerned about trade deficits, however.

Blogs covering this story: EconBrowser, Ratcliffe Blog

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