Economic news

U.S. trade deficit hit its highest monthly level in five years

The U.S. trade deficit in January jumped by 9.6% to $48.5 billion compared with $44.3 billion in the previous month, according to the data of the Commerce Department. It was the largest monthly difference since March 2012.

Exports grew by 0.6% to $192.1 billion (the most significant figure since December 2014), due to increased supplies of cars and trucks, oil and soybeans.

The volume of imports increased by 2.3%, which was the maximum growth since March 2015. As a result, imports reached the highest level since December 2014 - $240.6 billion, not least because of the demand of Americans for mobile phones.

The January figure coincided with the average forecast of analysts on Wall Street.

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