WASHINGTON (Reuters) – The United States’ trade deficit increased less than expected in October, suggesting trade could contribute to economic growth in the fourth quarter.
The Commerce Department said on Friday the trade gap rose 1.7% to $63.1 billion in October. Data for September was revised to show a $62.1 billion deficit instead of $63.9 billion as previously reported. Economists polled by Reuters had forecast the trade shortfall increasing to $64.8 billion in October.
Imports increased 2.1% to $245.1 billion. Goods imports gained 2.1% to $207.8 billion. Exports accelerated 2.2% to $182.0 billion. Goods exports jumped 3.0% to $126.3 billion.
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