US Oct trade deficit $42.24B vs $42.6B exp
- The Sept deficit was $41.6 billion
Practically bang-on the estimated but the details are soft. Exports fell to the lowest level since February and imports to the lowest since April 2011.
The numbers are stale but confirm that the start of the fourth quarter was weak. The trade deficit with China rose to a record $29.47B, which may renew calls for yuan appreciation.