US visible trade deficit increases modestly in January

America's shortfall on trade in goods with the rest of the world increased at the start of 2023.

According to the US Department of Commerce, the visible trade deficit rose by 2.0% month-on-month to reach $91.5bn.

Economists had penciled in a shortfall of approximately $91.0bn.

Exports increased by 4.2% versus December to reach $173.8bn, while imports were up by 3.4% to $265.3bn.