News ID: 109867
Publish Date : 06 December 2022 - 21:34

U.S. Trade Deficit Sharply Widens 

WASHINGTON (Reuters) - The U.S. trade deficit widened sharply in October as slowing global demand and a strong dollar pushed goods exports to a seven-month low, suggesting that trade could be a drag on economic growth this quarter if the trend persists. The report from the Commerce Department on Tuesday, which followed on the heels of recent upbeat news on the economy ranging from consumer spending, the labor market to the services industry, did not change perceptions that the economy had got off to a solid start in the fourth quarter.