The US trade deficit is rising less than expected

The US Commerce Department said today that the US trade deficit rose by 1.7% to $ 63.1 billion in October compared to $ 62.1 billion in September, and analysts had expected the US trade deficit to rise to $ 64.8 billion in October. Imports rose 2.1% to $ 245.1 billion, merchandise imports rose 2.1% to $ 207.8 billion, exports increased 2.2% to $ 182.0 billion, and merchandise exports rose 3.0% to $ 126.3 billion. Thus, trade formed a burden on the GDP in the third quarter for the first time since the second quarter of 2019, and the US economy had grown at a record pace of 33.1% in the third quarter, after declining by 31.4% in the second quarter.