US trade deficit jumps sharply in October

The shortfall in America’s trade in goods and services with the rest of the world registered a sharp jump in October, as imports grew even as sales overseas fell.

In seasonally adjusted terms, the total deficit on the country’s trade in international goods and services rose from $36.2bn in September to $42.6bn for October, according to the Department of Commerce.

September’s preliminary estimate for the total trade deficit was revised slightly lower, from -$36.4bn to -$36.2bn.

Total exports fell back from $189.8bn to $186.4bn as imports on the other hand grew by $3.1bn to reach $229.0bn.