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Trade Deficit Widened by $3.1 Billion in October

Trade Deficit Widened by $3.1 Billion in October

December 06, 2023, from Floor Focus FloorDaily News

Washington, DC, December 6, 2023 – The goods and services deficit was $64.3 billion in October, up $3.1 billion from $61.2 billion in September, revised, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis.

October exports were $258.8 billion, $2.6 billion less than September exports. October imports were $323.0 billion, $0.5 billion more than September imports.

The October increase in the goods and services deficit reflected an increase in the goods deficit of $3.5 billion to $89.8 billion and an increase in the services surplus of $0.4 billion to $25.5 billion.

Year-to-date, the goods and services deficit decreased $161.4 billion, or 19.8%, from the same period in 2022. Exports increased $28.0 billion or 1.1%. Imports decreased $133.4 billion or 4.0%.

Donato Pompo

Donato Pompo, CTC CMR CSI CDT MBA, is the leading tile and stone forensic expert and consultant in North America, and he is a National Tile Contractors Association Recognized Consultant. Donato is the founder of CTaSC.